you pay $6200 for a municipal bond. When it matures after 16 years, you receive $11,800. a. The total return is     % b. The annual return is           %

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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you pay $6200 for a municipal bond. When it matures after 16 years, you receive $11,800.

a. The total return is     %

b. The annual return is           %

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