SOLUTION: a bond with a face value of $10,000 in 10 years can be purchased now for $5988.02. what is the simple interest rate?
To solve Use I=PRT Face value 10,000
Interest =
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-> SOLUTION: a bond with a face value of $10,000 in 10 years can be purchased now for $5988.02. what is the simple interest rate?
To solve Use I=PRT Face value 10,000
Interest =
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Question 293633: a bond with a face value of $10,000 in 10 years can be purchased now for $5988.02. what is the simple interest rate?
To solve Use I=PRT Face value 10,000
Interest =4011.98 principle 5988.02
Principle 5988.02 amount of interest 4011.98
Time 10 years
4011.98=5988.02(10) r
Now multiply the time 10 by the principal 5988.02 to get 59880.2
4011.98=59880.2r
Divide both sides by 59880.2 to get r alone
.06700011022=r
now move the decimal two places to the right to turn it in to % and you have 6.7% rounded
6.700011022%=r
You can put this solution on YOUR website! a bond with a face value of $10,000 in 10 years can be purchased now for $5988.02. what is the simple interest rate?
To solve Use I=PRT Face value 10,000
Interest =4011.98 principle 5988.02
Principle 5988.02 amount of interest 4011.98
Time 10 years
4011.98=5988.02(10) r
Now multiply the time 10 by the principal 5988.02 to get 59880.2
4011.98=59880.2r
Divide both sides by 59880.2 to get r alone
.06700011022=r
now move the decimal two places to the right to turn it in to % and you have 6.7% rounded
6.700011022%=r
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