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James McCulloch purchased a 30-year U.S. Treasury bond four years ago and paid the face value of $3,000. The bond paid 3.225 percent annual interest.
James McCulloch purchased a 30-year U.S. Treasury bond four years ago and paid the face value of $3,000. The bond paid 3.225 percent annual interest. Four years later he sold the bond for $3,025. What is the annual interest amount for the bond? (Round your answer to 2 decimal places.) (a) Annual interest What is the total interest Mr. McCulloch earned during the four-year period? (Round your answer to the nearest whole number.) (b) Total interest What is the total return for Mr. McCulloch's bond investment? (Round your answer to the nearest whole number.) (c)
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