Bank of America General Electric Goldman Sachs Wells Company AT&T Verizon Fargo Time to Maturity (years) 10 10 3 8 7 Annual Rate (%) 2.40 5.00 4.25 5.15 4.15 4.50 If the General Electric bonds you purchased had paid you a total of $6,510 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.)

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter5: Exponential And Logarithmic Functions
Section5.5: Exponential And Logarithmic Models
Problem 5ECP: In Example 5, after how many days are 250 students infected?
Question
The following table lists several corporate bonds issued during a particular quarter.

| Company         | AT&T | Bank of America | General Electric | Goldman Sachs | Verizon | Wells Fargo |
|-----------------|------|-----------------|------------------|---------------|---------|-------------|
| Time to Maturity (years) | 10   | 10              | 2                | 3             | 8       | 7           |
| Annual Rate (%) | 2.40 | 5.00            | 4.25              | 5.15          | 4.15    | 4.50        |

If the General Electric bonds you purchased had paid you a total of $6,510 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.)

$ [Input Box]
Transcribed Image Text:The following table lists several corporate bonds issued during a particular quarter. | Company | AT&T | Bank of America | General Electric | Goldman Sachs | Verizon | Wells Fargo | |-----------------|------|-----------------|------------------|---------------|---------|-------------| | Time to Maturity (years) | 10 | 10 | 2 | 3 | 8 | 7 | | Annual Rate (%) | 2.40 | 5.00 | 4.25 | 5.15 | 4.15 | 4.50 | If the General Electric bonds you purchased had paid you a total of $6,510 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.) $ [Input Box]
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