The following table lists several corporate bonds issued during a particular quarter.CompanyAT&TBank ofAmericaGeneralElectricGoldmanSachsVerizonWellsFargoTime toMaturity(years)10102387AnnualRate (%)2.405.005.257.154.153.50If the General Electric bonds you purchased had paid you a total of $6,630 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.)

We need to use simple interest formula to solve this problem Maturity value =P(1+rt) Where P=…

Answered: The following table lists several…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 3EB: Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual...

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The following table lists several corporate bonds issued during a particular quarter.

Company	AT&T	Bank of America	General Electric	Goldman Sachs	Verizon	Wells Fargo
Time to Maturity (years)	10	10	2	3	8	7
Annual Rate (%)	2.40	5.00	5.25	7.15	4.15	3.50

If the General Electric bonds you purchased had paid you a total of $6,630 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.)

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