James McCulloch purchased a 30-year U.S. Treasury bond four years ago for $1,000. The bond paid 2.70

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James McCulloch purchased a 30-year U.S. Treasury bond four years ago for $1,000. The bond paid 2.70 percent annual interest. Four years later, he sold the bond for $1,040.
a. What is the annual interest amount for the bond?

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

c. What is the total return for Mr. McCulloch's bond investment?

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Personal Finance

ISBN: 978-1259720680

12th edition

Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart

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Question Posted: May 30, 2018 05:34 AM

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James McCulloch purchased a 30-year U.S. Treasury bond four years ago for $1,000. The bond paid 2.70

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