eight-year bond is purchased for $8100 Suppose an bond when it matures is $10,773. Find the APR.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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3. Suppose an eight-year bond is purchased for $8100. The face value of the
bond when it matures is $10,773. Find the APR.
Transcribed Image Text:3. Suppose an eight-year bond is purchased for $8100. The face value of the bond when it matures is $10,773. Find the APR.
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