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A treasury note was purchased for $500. If the holder is paid interest of $20 every 6 months, what is the annual rate of return in percentage terms? Instructions: Enter a number rounded to one decimal place. 8%

A treasury note was purchased for $500. If the holder is paid interest of $20 every 6 months, what is the annual rate of return in percentage terms? Instructions: Enter a number rounded to one decimal place. 8%

Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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A treasury note was purchased for $500. If the holder is paid interest of $20 every 6 months, what is the annual rate of return in percentage terms? Instructions: Enter a number rounded to one decimal place. 8%
Transcribed Image Text:A treasury note was purchased for $500. If the holder is paid interest of $20 every 6 months, what is the annual rate of return in percentage terms? Instructions: Enter a number rounded to one decimal place. 8%
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