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A corporate bond paying $3,000 after 24 weeks earns 0.02% simple interest per week. How much did it cost to buy? (Round your answer
A corporate bond paying $3,000 after 24 weeks earns 0.02% simple interest per week. How much did it cost to buy? (Round your answer to the nearest cent.) Compute the specified quantity. Your total payment on a 3 year loan, which charged 7.5% annual simple interest, amounted to $60,760. How much did you originally borrow (in dollars)? (Round your answer to the nearest cent.) $
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Lets call the cost to buy the bond P We can use the formula for simple interest to solve for P Simpl...
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Microeconomics
Authors: Paul Krugman, Robin Wells
3rd edition
978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434
