You are thinking about buying a savings bond. The bond costs $57 today and will mature in 10 years with a value of $114. What annual interest rate will the bond eam? The bond will eam an annual rate of 55% (Round to two decimal places)

Essentials Of Investments
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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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You are thinking about buying a savings bond. The bond costs $57 today and will mature in 10 years with a value of $114. What annual interest rate will the bond eam?
The bond will earn an annual rate of 552% (Round to two decimal places)
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Transcribed Image Text:个 You are thinking about buying a savings bond. The bond costs $57 today and will mature in 10 years with a value of $114. What annual interest rate will the bond eam? The bond will earn an annual rate of 552% (Round to two decimal places) CID
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