Bunuel wrote:
Samantha purchased a five-year municipal bond that pays simple interest for $600. After the bond matured five years later, she had received a total of $720 in principal plus interest payments. What is the interest rate of Samantha's bond?
A. 4%
B. 5%
C. 10%
D. 12%
E. 20%
\(\frac{100*(720-600)}{600*5} = r\)
Or, \(r = \frac{100*120}{600*5}=>4\), Answer will be (A)
Statistics : Posted by Abhishek009 • on 20 Sep 2023, 01:30 • Replies 2 • Views 93
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