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Bateman Enterprises invested in the bonds of Greater Gloucester on January​ 1, 2018. These 10minus​year, $ 400 comma 000 bonds pay interest of 3​% with semiannual payments every June 30 and December 31.
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Bateman Enterprises invested in the bonds of Greater Gloucester on January​ 1, 2018. These 10minus​year, $ 400 comma 000 bonds pay interest of 3​% with semiannual payments every June 30 and December 31. The effective rate of interest for similar bonds on January 1 was​ 4%. What is the semiminusannual interest payment received by Bateman for these​ bonds?

User Magicmarkker
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Step-by-step explanation:


(400 * 10 * 4)/(100) \\ (16000)/(100) \\ 160 \\ (1)/(25) * 160 \\ 6.4 \: intrest

User Dime
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