SOLUTION: #69 Find the interest on a $5000 bond that pays an annual percent rate of 61/2% for 6 years.
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Question 159150: #69 Find the interest on a $5000 bond that pays an annual percent rate of 61/2% for 6 years.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
I'll assume the 61/2%=6.5% not 30.5%.
5,000(1+.065)^6
5,000(1.065)^6
5,000*1.459=$7,295.71 answer.
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