Jean Miller purchased a $1,000 corporate bond for $860. The bond pays 4 percent annual interest. Three

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Jean Miller purchased a $1,000 corporate bond for $860. The bond pays 4 percent annual interest. Three years later, she sold the bond for $980. Calculate the total return for Ms. Miller’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 05:33 AM

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Jean Miller purchased a $1,000 corporate bond for $860. The bond pays 4 percent annual interest. Three

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The total return is 240 calculated as f...View the full answer

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