document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1108006>Question 1108006</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A corporate bond paying $1,000 after 24 weeks earns 0.03% simple interest per week. How much did it cost to buy? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #723028 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=723028\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A corporate bond paying $1,000 after 24 weeks earns 0.03% simple interest per week. How much did it cost to buy? <BR>\n" );
document.write( "-------<BR>\n" );
document.write( "A(t) = P(1+r*t)<BR>\n" );
document.write( "----<BR>\n" );
document.write( "1000 = P(1+0.0003*24)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "1000 = P*1.0072<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "P = 1000/1.0072<BR>\n" );
document.write( "P = $992.85 (cost)<BR>\n" );
document.write( "------------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "--------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );