Eight years ago, Burt Brownlee purchased a government bond that pays 6 . 0 0 percent interest.
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Question:
Eight years ago, Burt Brownlee purchased a government bond that pays percent interest. The face value of the bond was $ a What is the dollar amount of annual interest that Burt received from his bond investment each year? b Assuming that comparable bonds are now paying percent, will Burt's bond increase or decrease in value? c Why did the bond increase or decrease in value
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