What is the total return earned by this bond?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section: Chapter Questions
Problem 66E
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Find the total return earned by the bond with the characteristics shown in the table.
Annual Interest Rate
1.5%
Face Value
$1000
What is the total return earned by this bond?
$
Term to Maturity
3 years
Transcribed Image Text:Find the total return earned by the bond with the characteristics shown in the table. Annual Interest Rate 1.5% Face Value $1000 What is the total return earned by this bond? $ Term to Maturity 3 years
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