Eight years ago Burt Brownlee purchased a U S government

Last updated: 3/26/2023

Eight years ago Burt Brownlee purchased a U S government bond that pays 5 50 percent interest The face value of the bond was 1 000 a What is the dollar amount of annual interest that Burt received from his bond investment each year Round your answer to 2 decimal places Amount of annual interest 55 b Assume that comparable bonds are paying 5 45 percent What is the approximate dollar price for which Burt could sell his bond Do not round intermediate calculations Round your final answer to 2 decimal places Approximate market