phamleson2039 phamleson2039

09-07-2021
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Jim buys a 5 percent bond in the amount of $100. If the market interest rate increases to 10 percent Jim can sell his bond for up to:

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Ritmeks Ritmeks

11-07-2021

Answer:

$50

Explanation:

Jim buys a 5% bond

The amount is $100

The market interest rate increases to 10%

Therefore the price at which the bond cann be sold is calculated as follows

= 5×100

= 500×0.01

= 50

Hence it can be sold for $50

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