For a one year bond of $2,600 at a simple interest rate of 9% per year, find the semiannual interest payment and the total interest earned over the life of the bond.
For a one year bond of $2,600 at a simple interest rate of 9% per year, find the semiannual interest payment and the total interest earned over the life of the bond.
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
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