Find the Total Return Earned by the Given Bond $\$ 585,000$

question 241

Multiple Choice

Find the total return earned by the given bond.
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• A) \(\$ 585,000\)
• B) \(\$ 5850\)
• C) \(\$ 585\)
• D) \(\$ 58,500\)

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Definitions:

Form 1099-DIV

A tax form issued by banks and financial institutions to investors who receive dividends and distributions from any type of investment during a calendar year.

Dividends

Payments made by a corporation to its shareholders out of its profits or reserves.

Tax-exempt Interest

Interest income that is not subject to federal income tax, such as that earned from certain municipal bonds.

Interest on a Savings Account

The amount paid by a bank or financial institution to depositors for holding money in a savings account.