# Allen Stewart purchased a $2,000 bond at 110. The bond pays 6%. What was the cost of the bond? What was the annual interest? What is the yield (to the nearest tenth of a percent)?

(2) Answers

2000*110/100=2200 2000*0.06=120 120/2200=5.45%

1. 2,200 2. 120 3. 5.5%

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