James McCulloch purchased a 30-year U.S. Treasury bond four years ago for $1,000. The bond paid 2.1

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James McCulloch purchased a 30-year U.S. Treasury bond four years ago for $1,000. The bond paid 2.1 percent annual interest. Four years later he sold the bond for $1,040.

1. What is the annual interest amount for the bond?

2. What is the total interest Mr. McCulloch earned during the four-year period?

3. What is the total return for Mr. McCulloch’s bond investment?

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ISBN: 9781264101597

14th Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart

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Question Posted: Nov 12, 2023 02:48 AM

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James McCulloch purchased a 30-year U.S. Treasury bond four years ago for $1,000. The bond paid 2.1

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