Recall Example 6.70, in which Muriel purchased a \(\$ 3,000\) bond with a maturity of 4 years at a fixed coupon rate of \(5.5 \%\) paid annually. What was Muriel's annual return on investment? Interpret this as compound interest.

Data from Example 70

Recall Example 6.62, in which Muriel purchased a \(\$ 3,000\) bond with a maturity of 4 years at a fixed coupon rate of \(5.5 \%\) paid annually. What was Muriel's return on investment?

Data from Example 6.62

Muriel purchases a \(\$ 3,000\) bond with a maturity of 4 years at a fixed coupon rate of \(5.5 \%\) paid annually. How much is Muriel paid each year, and how much does she receive on the maturity date?