Question
Adriana's cousin has sent her $22,000 bond, which pays annual interest of $1760. The bond has four years left until redemption. Adrana wants to cash
Adriana's cousin has sent her $22,000 bond, which pays annual interest of $1760. The bond has four years left until
redemption. Adrana wants to cash in bond to buy a truck. The current interest rate is 5%. Ignoring brokerage and other
costs, approximately how much will Adriana get for the bond?
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Marketing
Authors: John McMurry, Robert Fay
13th Edition
125973806X, 9781259738067
