4-47. The Golden Gate Bridge in San Francisco was financed with construction bonds sold for $35 million

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4-47. The Golden Gate Bridge in San Francisco was financed with construction bonds sold for $35 million in 1931. These were 40-year bonds, and the $35 million principal plus almost $39 million in interest were repaid in total in 1971. If interest was repaid as a lump sum, what interest rate was paid on the construction bonds? (4.6)

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Engineering Economy

ISBN: 9780134870069

17th Edition

Authors: William Sullivan, Elin Wicks, C Koelling

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