Personal Finance 1st Edition by Jack R. Kapoor

Exercise 21

Determining Interest. Three years ago you purchased a Heinz corporate bond that pays 3.125 percent annual interest. The face value of the bond is $1,000. What is the total dollar amount of interest that you received from your bond investment over the three-year period?

Step 1 of 4

An investor purchased a corporate bond. Face value of the bond is $1,000. Applicable interest rate is 3.125%.