How to calculate the rate of interest on a bond?
A deep discount bond can be pruchased for $ 312 and in 20 years it will be worth $ 1,000. What is the rate of interest on the bond? (calculations)
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Answer by Mohammad
You can find the rate of interest on the bond in question by using the following formula:
Amount = Principal(1+r/100)^n
1000 = 312(1+r/100)^20
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