Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can i get help with this three questions please? You are thinking about buying a savings bond. The bond costs 557 loday and will mature

can i get help with this three questions please?
image text in transcribed
image text in transcribed
image text in transcribed
You are thinking about buying a savings bond. The bond costs 557 loday and will mature in 8 yoars with a value of $114. What annual interest rate will the bond eam? The bond will earn an annual rate of x. (Round to two decimal places.) Due to your good crodit, your bank reduces the interest rate on your $10,000 losn from 8.1% to 7.2% per year. Thanks to the change, how much will you save in iniarest this year? The amount you will mme in interest this year is 3 (Round to the nearost dollar.) You expect to have $4,000 in one year. A bank is offering loans at 6.0% interest per year. How much can you borrow today? Today you can borrow $ (Round to the nearest cent.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

What is loss of bone density and strength as ?

Answered: 1 week ago

Question

The paleolithic age human life, short write up ?

Answered: 1 week ago

Question

Make efficient use of your practice time?

Answered: 1 week ago