The following table lists several corporate bonds issued during the second quarter of 2015. 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 (%) 3.40 4.00 5.25 6.15 5.15 3.50   If you spent $70,000 on Bank of America bonds, how much interest would you earn every 6 months? HINT [See Example 3.] $   How much interest would you earn over the life of the bonds

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The following table lists several corporate bonds issued during the second quarter of 2015.
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 (%)
3.40 4.00 5.25 6.15 5.15 3.50

 

If you spent $70,000 on Bank of America bonds, how much interest would you earn every 6 months? HINT [See Example 3.]
$  
How much interest would you earn over the life of the bonds?
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