SOLUTION: In 25 years, a bond that paid 4.75% simple interest earned $4,750 interest. What was the principal of the bond in dollars?
Algebra.Com
Question 1135129: In 25 years, a bond that paid 4.75% simple interest earned $4,750 interest. What was the principal of the bond in dollars?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
The principal was $4,000
check:
OK
RELATED QUESTIONS
A bond with a face value of $10,000 in ten years was purchased for 5,988. What is the... (answered by addingup)
8. A savings bond came in two types. A simple interest bond for $100 that had a... (answered by JulietG)
Mike has a bond. The bond pays an annual simple interest rate of 6%. After 13 years, the... (answered by josmiceli)
a 700$ bond earns 3.5% simple annual interest. what is the interest earned after 21 years
(answered by stanbon)
A small company invested $20,000 by putting part of it into a mutual bond fund that... (answered by addingup)
The Math Club raised $4000 to attend a future competition. The club invested part of the... (answered by ankor@dixie-net.com)
Jennifer invested $1,000 more in Bond A than she invested in Bond B. Bond A paid 4.15%,... (answered by lwsshak3)
Jim invested $4,000 in a bond at a yearly rate of 4.5%. He earned $540 in interest
How... (answered by Boreal,MathTherapy)
A total of $18,000 is invested in two corporate bonds that pay 3.5% and 5% simple... (answered by mananth)