You are thinking about buying a savings bond. The bond costs $70 today and will mature in 10 years with a value of $155. What annual interest rate will the bond earn?The bond will earn(Round to two decimal places.)

Bond cost = $ 70 Period = 10 Years Maturity value = $ 155

Answered: You are thinking about buying a savings…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 6P

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You are thinking about buying a savings bond. The bond costs $70 today and will mature in 10 years with a value of $155. What annual interest rate will the bond earn? %. (Round to two decimal places.) The bond will earn