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Three years ago, you purchased a corporate bond that pays 5.0 percent. The purchase price was $1,000. What is the annual dollar amount of interest that you receive from your bond investment

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Answer:

Annual interest received is $50

Explanation:

Amount of annual interest = FV × r

FV= Face value =$1000

r= interest rate= 5.0%= 0.05

Amount of annual interest= $1000 × 0.05

= $50.

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