SOLUTION: Mr Barber owns a $20,000 government bond that pays interest at an annual rate of 8 percent. How many dollars will he receive as a quarterly interest payment?

SOLUTION: Mr Barber owns a $20,000 government bond that pays interest at an annual rate of 8 percent. How many dollars will he receive as a quarterly interest payment?

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Question 825143: Mr Barber owns a $20,000 government bond that pays interest at an annual rate of 8 percent. How many dollars will he receive as a quarterly interest payment?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
(20000*0.08)/4=$400
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