Three years ago you purchased a Heinz corporate bond that pays 3 125 percent annual interest The face value of the bond is $1,000 What is the total dollar amount of interest that you received from your bond investment over the three year period ...

Step 1 The annual interest amount is ...

Three years ago you purchased a Heinz corporate bond that pays 3.125 percent annual interest. The face

Question:

Three years ago you purchased a Heinz corporate bond that pays 3.125 percent annual interest. The of the bond is $1,000. What is the total dollar amount of interest that you received from your bond investment over the three-year period?
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...