On June 1, Dave Byers bought 10 Continental Technology bonds with a coupon rate of 9 interest paid on May 1 and November 1. The purchase price was 92.750 and the commission was 5 per bond. Dave sold the bonds on October 1 for 94.50. What was his total gain on this investment?
Question 2
Narrative 11-1 Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Refer to Narrative 11-1. Calculate the compound interest on an investment of 28,000 at 4 interest, compounded quarterly, for 2.5 years.
A) 2,299.42
B) 2,942.29
C) 2,929.36
D) 2,992.42
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