For a three year bond of $2,400 at a simple interest rate of 11% per year, find the semiannual interest payment and the total interest earned over the life of the bond. The semiannual interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.) The total interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
For a three year bond of $2,400 at a simple interest rate of 11% per year, find the semiannual interest payment and the total interest earned over the life of the bond. The semiannual interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.) The total interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter1: Introduction To Algebra
Section1.9: Opposites And Absolute Values
Problem 8MRE
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Transcribed Image Text:For a three year bond of $2,400 at a simple interest rate of 11% per year, find the semiannual interest payment and the total interest earned over the life
of the bond.
The semiannual interest on the bond is $.
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
The total interest on the bond is $
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
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