What is the annual interest amount for the bond

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Reference no: EM13881128

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 $

Reference no: EM13881128

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