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Question - James McCulloch purchased a 20-year U.S. Treasury bond four years ago for $10,500. The bond paid 3.600 percent annual interest. Four years later he sold the bond for $10,600.
(a) What is the annual interest amount for the bond?
(b) What is the total interest Mr. McCulloch earned during the four-year period?
(c) What is the total return for Mr. McCulloch bond investment?
The governor and his college age daughter are talking after dinner. The governor has had a rough day at the office discussing the state budget problems The daughter is home on vacation after having completed a course in municipal accounting
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