questions 16-18:)

Next, they invested in bonds and bought a $1,000 IBM 7% 23 bond. Question 16: Assuming that the bond paid interest annually, what is the dollar amount of interest they received each year? Answer: I Wayside Financial Matters - A Comprehensive Business Math Project Bo and Sherry are now 30 years old, and they decide it's well past time to start a retirement plan. They figure that their income for the next 25 years will be sufficient to deposit $500 at the end of each quarter into a retirement plan earning 6% compounded quarterly. After 25 years they will let the money sit for another 10 years, without making additional deposits, until they are 65 years old. Question 17: What amount will Bo and Sherry have when they turn 55? Answer Question 18: What amount will Bo and Sherry have when they turn 65