An investment bond is offered to the public at 9% p.a. Louise buys a bond worth $2000 that will mature in 2 years. How much in total will Louise receive at the end of the 2 years?

3360

2360

4360

5360

Correct Answer: 2360

Explanation:

I = (P x r x t)/100

I = $360

A = P+I

A = 2360

Question

An investment bond is offered to the public at 9% p.a. Louise buys a bond worth $2000 that will mature in 2 years. How much in total will Louise receive at the end of the 2 years?

Accepted Answer

I = (P x r x t)/100 I = $360 A = P+I A = 2360

An investment bond is offered to the public at 9% p.a. Louise buys a bond worth $2000 that will mature in 2 years. How much in total will Louise receive at the end of the 2 years?

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