Problemthe golden gate bridge in san francisco was financed, Ask an Expert

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Problem:

The Golden Gate Bridge in San Francisco was financed with construction bonds sold for $36 million in 1931. These were 40-year bonds, and the $36 million principal plus almost $40 million in interest were repaid in total in 1971. If interest was repaid as a lump sum,

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Question: What interest rate was paid on the construction bonds? Please explain comprehensively and provide step by step solution.

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Category:- Basic Finance
Reference No.:- M91147524

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