Two $1,000 bonds with interest at 8% on March 1 and September 1 were purchased on October 8 at 104 ...

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Two $1,000 bonds with interest at 8% on March 1 and September 1 were purchased on October 8 at 104 ...

Two $1,000 bonds with interest at 8% on March 1 and September 1 were purchased on October 8 at 104 plus accrued interest. Compute the entire purchase cost of the bonds. (Assume a 360-day year and a commission of $5 per bond.)

Textbook

Contemporary Business Mathematics for Colleges

Edition: 16^th

Authors: Deitz, Southam

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