Question $18$

A $$58,009$ bond has $18$ more years to maturity, has an interest rate of $8\mathrm{.}3\%,$

and pays interest semiannually. If the current market interest rate is $9\mathrm{.}1\%,$

what is the price of the bond to the nearest dollar?

You Answered

Correct Answer

$53,937$ margin of error $+/-1$

Question $19$

A car is purchased with a $30-$month,$9\mathrm{.}8\%$ nominal loan with an initial balance

of $$41,895.$ To the nearest dollar, what is the balance due after $14$

payment$($s$)?$

You Answered

Correct Answer

$23,611$ margin of error $+/-1$