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Two months ago, Francesca purchased a bond for $ 9 , 0 0 0 . Initially, she calculated the bond would be equivalent to a
Two months ago, Francesca purchased a bond for $ Initially, she calculated the bond would be equivalent to a fivemonth simple interest loan with an interest rate of per year. However, Francesca's car unexpectedly broke down today. To pay for the car repair, she decided to sell the bond to a friend for $
A What is the maturity value of the bond? Round your answer to the nearest dollar.
B From the friend's perspective, what is the equivalent simple interest rate per year? Round your answer to the nearest tenth of a percent.
C By selling the bond for $ Francesca's true interest rate was not necessary the same as she initially calculated. What was her true equivalent simple interest rate per year?
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