Question 20 A retired couple invested $6000 in bonds. At the end of one year, they received an interest payment of $402. What was the simple interest rate of the bonds?

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Malcolm Groves asked May 28, 2022

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Question 20 A retired couple invested $6000 in bonds. At the end of one year, they received an interest payment of $402. What was the simple interest rate of the bonds?

Mathematics
college

Malcolm Groves asked May 28, 2022

by Malcolm Groves

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Answer: interest rate was 6.7 %

Step-by-step explanation: 402/6000 = 0.067 = 6.7%

Felicity answered Jun 2, 2022

by Felicity

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