James mcculloch purchased a 20-year us treasury bond four, Ask an Expert

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James McCulloch purchased a 20-year U.S. Treasury bond four years ago for $8,500. The bond paid 3.500 percent annual interest. Four years later he sold the bond for $8,580.

(a) What is the annual interest amount for the bond? (Round your answer to 2 decimal places.)

Annual interest $

(b) What is the total interest Mr. McCulloch earned during the four-year period?

Total interest $

Total return $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91549635

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