Question
James purchased a bond for $3,380 and ten months later he sold it for $3700. What annual rate would he have to earn in a
James purchased a bond for $3,380 and ten months later he sold it for $3700. What annual rate would he have to earn in a savings account compounded monthly, to earn the same money on his investment?
A.) 8.08%
B.) 4.58%
C.) 7.33%
D.) 6.58%
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Analysis for Financial Management
Authors: Robert C. Higgins
12th edition
1259918963, 9781260140729 , 978-1259918964
