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13 November, 23:44

John has a $1000 bond with a 3% coupon. How much interest will John receive for this bond every 6 months?

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  1. 13 November, 23:48
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    The interest of the bond for 6 months is $15. This is computed as 3% of 1000 is $30. Then since it is only for 6 months, $30 divided by 12 months and multiplied by 6, which is equal to $15
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