SOLUTION: Adam buys a corporate bond for 510,000.00 that pays 9% interest with a maturity date of ten years.
Adam also has to pay 28% of his income to taxes.
. How much interest will Ad
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-> SOLUTION: Adam buys a corporate bond for 510,000.00 that pays 9% interest with a maturity date of ten years.
Adam also has to pay 28% of his income to taxes.
. How much interest will Ad
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Question 872070: Adam buys a corporate bond for 510,000.00 that pays 9% interest with a maturity date of ten years.
Adam also has to pay 28% of his income to taxes.
. How much interest will Adam make from his bond in one year? (not counting taxes)
- I've got 108 as my answer ,but im pretty sure im not doing it correct? can u help? Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! Assuming that you mean 9% per year and not 9% for the ten years.
(510,000*.09)*.72=$33,048.00
He receives 72% of the interest since he pays 28% in taxes
