A company that manufactures carbrakes invested $350 exactly 5 yearsago in some bonds. If the bonds arenow worth $500, what rate of returnper year did the company make onthe basis of simple interest?Select one:O a. 17O b. 3С. 9O d. 14е. б

Simple interest formula: A = P(1+rt)

Answered: A company that manufactures car prakes…

A company that manufactures car prakes invested $350 exactly 5 years go in some bonds. If the bonds are ow worth $500, what rate of return er year did the company make on he basis of simple interest?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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A company that manufactures car
brakes invested $350 exactly 5 years
ago in some bonds. If the bonds are
now worth $500, what rate of return
per year did the company make on
the basis of simple interest?
Select one:
O a. 17
O b. 3
С. 9
O d. 14
е. б

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