Nanette buys a $5000 20-year bond that has a coupon rate of 2.5%.If she keeps the bond to maturity,how much money plus principal interest will she have collected over the life of the bond?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Nanette buys a $5000 20-year bond that has a coupon rate of 2.5%.If she keeps the bond to maturity,how much money plus principal interest will she have collected over the life of the bond?
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