General Electric recently sold $1000 bonds maturing in 30 years with an annual yield of 4.125%. After how much time could they be sold for twice their original price? Give your answer in years and months.

General Electric recently sold $1000 bonds maturing in 30 years with an annual yield of 4.125%. After how much time could they be sold for twice their original price? Give your answer in years and months.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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Q) General Electric recently sold $1000 bonds maturing in 30 years with an annual yield of 4.125%. After how much time could they be sold for twice their original price? Give your answer in years and months.

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