(Answered) Lucy bought 3frac12 government stock at pound87 per

Economics

Lucy bought 3½% government stock at £87 per £100 nominal value. She invested £34,800 in the stock, and held it for a period during which she received interest of £5,600 in total for the period.

Calculate:

(i) the nominal value of the stock purchased

(ii) the number of years for which she held the stock

(iii) the percentage yield on the amount invested for the period

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Macroeconomics, Economics

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