For a three year bond of $2,200 at a simple interest rate of 9% per year, find the semiannual interest payment and the total interest earned over the life of the bond. The semiannual interest on the bond is $ (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.) The total interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
For a three year bond of $2,200 at a simple interest rate of 9% per year, find the semiannual interest payment and the total interest earned over the life of the bond. The semiannual interest on the bond is $ (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.) The total interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter11: Bond Pricing And Amortization (bonds)
Section: Chapter Questions
Problem 7R
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![For a three year bond of $2,200 at a simple interest rate of 9% per year, find the semiannual interest payment and the
total interest earned over the life of the bond.
The semiannual interest on the bond is $
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
The total interest on the bond is $
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3ae0660d-5301-4b30-8361-0f1bb7fa4959%2F6257be45-30a9-432d-bc27-c3c87946f50b%2Fa5mfkob_processed.png&w=3840&q=75)
Transcribed Image Text:For a three year bond of $2,200 at a simple interest rate of 9% per year, find the semiannual interest payment and the
total interest earned over the life of the bond.
The semiannual interest on the bond is $
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
The total interest on the bond is $
(Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
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