Andrew M. answered • 09/24/17
Tutor
New to Wyzant
Mathematics - Algebra a Specialty / F.I.T. Grad - B.S. w/Honors
His profit is selling price - purchase price - face value
$3,450,000 - $395,000 - $10 = $3,054,990
Andrew M.
Assuming we can use simple interest since this
was not an investment in an account or cd:
I = prt
I = interest (or profit nere)
r = to be found
t = 41 yeats
3054990 = 395000(r)(41)
r = 3054990/[(395000)(41)]
r = 0.18864 = 18.9%
Report
09/25/17
Yuchen H.
09/24/17