Maturity 10 10 (years) Annual 4.40 3.00 5.25 5.15 6.15 4.50 Rate (%) General Electric bonds you purchased had paid you a total of $8,840 at maturity, how much did you originall e nearest dollar.)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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The following table lists several corporate bonds issued during a particular quarter.
Bank of
General
Goldman
Wells
Company
AT&T
Verizon
America
Electric
Sachs
Fargo
Time to
Maturity
(years)
10
10
2
3
8
7
Annual
4.40
3.00
5.25
5.15
6.15
4.50
Rate (%)
If the General Electric bonds you purchased had paid you a total of $8,840 at maturity, how much did you originally invest? (Round your answer
to the nearest dollar.)
2$
Transcribed Image Text:The following table lists several corporate bonds issued during a particular quarter. Bank of General Goldman Wells Company AT&T Verizon America Electric Sachs Fargo Time to Maturity (years) 10 10 2 3 8 7 Annual 4.40 3.00 5.25 5.15 6.15 4.50 Rate (%) If the General Electric bonds you purchased had paid you a total of $8,840 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.) 2$
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