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In 4 years, a bond with 3 percent annual interest rate earned $624 as interest. What was the principal amount of the bond.
In 4 years, a bond with 3 percent annual interest rate earned $624 as interest. What was the principal amount of the bond.
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To find the principal amount of the bond you can use the formula for simple interest Int...
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
