6.

[0/0.45 Points]DETAILSPREVIOUS ANSWERSWANEFMAC7 3.1.023.MI.

MY NOTES

PRACTICE ANOTHER

The following table lists several corporate bonds issued during the second quarter of 2015.

Company	AT&T	Bank of America	General Electric	Goldman Sachs	Verizon	Wells Fargo
Time to Maturity (years)	10	10	2	3	8	7
Annual Rate (%)	3.40	4.00	5.25	6.15	5.15	3.50

If you spent $20,000 on General Electric bonds, how much interest would you earn every 6 months? HINT [See Example 3.]

$

How much interest would you earn over the life of the bonds?

$

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7.

[/0.45 Points]DETAILSWANEFMAC7 3.1.030.

MY NOTES

PRACTICE ANOTHER

Compute the specified quantity.

The simple interest on a $3,000 loan at 6% per year amounted to $1620. At what time t did the loan mature (in years)?

t = yr

8.

[0/0.45 Points]DETAILSPREVIOUS ANSWERSWANEFMAC7 3.1.029.

MY NOTES

PRACTICE ANOTHER

Simple Loans Compute the specified quantity.

A $3,500 loan, taken now, with a simple interest rate of 8% per year, will require a total repayment of $4,620. At what time t will the loan mature?

t = yr

9.

[0/0.45 Points]DETAILSPREVIOUS ANSWERSWANEFMAC7 3.2.023.

MY NOTES

PRACTICE ANOTHER

You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 2% interest compounded quarterly. By how much will your deposit have grown after 9 years (in dollars)? (Round your answer to the nearest cent.)

$