EBK ENGINEERING ECONOMY
EBK ENGINEERING ECONOMY
8th Edition
ISBN: 8220103675437
Author: Blank
Publisher: YUZU
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Chapter 1, Problem 39P
To determine

Calculate the future value.

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don't use excel also can you show me maths solving with equation by hand please....
A man buys a corporate bond from a bond brokerage house for $925. The bond has a face value of $1000 and pays 4% of its face value each year. If the bond will be paid off at the end of 10 years, what rate return will the man receive?I know the answer is 4.97% I just need help with the process.
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