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James McCulloch purchased a 20-year U.S. Treasury bond four years ago for $8,500. The bond paid 3.500 percent annual interest. Four years later he sold
| James McCulloch purchased a 20-year U.S. Treasury bond four years ago for $8,500. The bond paid 3.500 percent annual interest. Four years later he sold the bond for $8,580. |
| (a) | What is the annual interest amount for the bond? (Round your answer to 2 decimal places.) |
| Annual interest | $ |
| (b) | What is the total interest Mr. McCulloch earned during the four-year period? |
| Total interest | $ |
| (c) | What is the total return for Mr. McCulloch's bond investment? |
| Total return | $ |
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