If the General Electric bonds you purchased had paid you a total of $8,680 at maturity, how much did you originally invest?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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 (%)
4.40 3.00 4.25 7.15 4.15 3.50
If the General Electric bonds you purchased had paid you a total of $8,680 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.)
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