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bob adams purchased a $1,000 bond at 67. the bond pays 4%. what was the cost of the bond? what was the annual interest?

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Abiolataiwo2015idn

Based on the information given the cost of the bond is $670 and the annual interest is $40.

Cost and annual interest of the bond

a. Cost of bond:

Cost of bond= (67/100)×1000

Cost of bond =$670

Annual interest:

Annual interest= (4/100)×1000

Annual interest=Bond percentage× Cost of bond

Annual interest=$40

Inconclusion  the cost of the bond is $670 and the annual interest is $40.

Learn more about bond here:https://brainly.com/question/25965295

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