The following table lists several corporate bonds issued during a particular quarter. Company AT&T Time to Maturity 10 (years) Annual Rate (%) 4.40 Bank of General Goldman America Electric Sachs 102 5.00 5.25 3 5.15 Verizon 8 6.15 Wells Fargo 7 2.50 If the General Electric bonds you purchased had paid you a total of $8,840 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.) 7980 X

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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The following table lists several corporate bonds issued during a particular quarter.
Company AT&T
Time to
Maturity
(years)
Annual
Rate (%)
10
4.40
Bank of General Goldman
America Electric Sachs
10
5.00
2
5.25
3
5.15
Verizon
8
6.15
Wells
Fargo
2.50
If the General Electric bonds you purchased had paid you total of $8,840 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.)
$7980
Transcribed Image Text:The following table lists several corporate bonds issued during a particular quarter. Company AT&T Time to Maturity (years) Annual Rate (%) 10 4.40 Bank of General Goldman America Electric Sachs 10 5.00 2 5.25 3 5.15 Verizon 8 6.15 Wells Fargo 2.50 If the General Electric bonds you purchased had paid you total of $8,840 at maturity, how much did you originally invest? (Round your answer to the nearest dollar.) $7980
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