Fred salmon purchased seven $1,000 bonds at 83. the bonds pay 6.5%.
what was the cost of the bonds?
a. $7,000
b. $5,810
c. $830
what was the total annual interest?
a. $65
b. $455
c. $377.65
what is the yield?
a. 7.8%
b. 7.1%
c. 6.5%

1.) (B) 5810

2.) (B)$455

3.) (A) 7.8%

Step-by-step explanation:

1) Seven bonds of $1000 = $7000

Cost of bond AT 83% = 7000×0.83

                                    = $5810

2) Total annual interest = 6.5% × 7000

                                      = $455

3) Current yield =

                           =

                           = 7.8%

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step-by-step explanation:

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