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Question
Steve purchased a bond for $975.00. Ninety days later he received interest income of $40.00, and then immediately sold the bond for $990.00. What is the annualized rate of return Steve earned on this investment?
a. 5.6%
b. 22.6%
c. 16.4%
d. 10.1%
e. 12.3%
Answer
This answer is hidden. It contains 11 characters.
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