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Mr. Berber owns a $20,000 government bond that pays interest at an annual rate of 8%. Which expression below shows how many dollars he will receive as a quarterly interest payment?
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Mr. Berber owns a $20,000 government bond that pays interest at an annual rate of 8%. Which expression below shows how many dollars he will receive as a quarterly interest payment?

Mr. Berber owns a $20,000 government bond that pays interest at an annual rate of-example-1
User Mdadm
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1 Answer

5 votes

Answer: (2)

Explanation:

His yearly interest amount would be 20000(0.08).

His quarterly interest amount would be
(20000(0.08))/(4), since one year has 4 quarters.

User Racs
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