in march 1868,winston Churchill grandfather,L.W. jerome, issued a $1000 bonds ( to pay for road to a race track he owned in what is now the bronx). the bonds carried a 7% annual interest rate payable semiannually. Mr. jerome paid the interest until March 1847, at which times new york city assumed responsible.a) the first of these bonds matured in march 2009. at that time , how much interest had new york city paid on this bond.b) another of these bonds will not be mature until March 2147! at that point how much interest will new york times have paid on it
in march 1868,winston Churchill grandfather,L.W. jerome, issued a $1000 bonds ( to pay for road to a race track he owned in what is now the bronx). the bonds carried a 7% annual interest rate payable semiannually. Mr. jerome paid the interest until March 1847, at which times new york city assumed responsible.
a) the first of these bonds matured in march 2009. at that time , how much interest had new york city paid on this bond.
b) another of these bonds will not be mature until March 2147! at that point how much interest will new york times have paid on it
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