Solve If Needed, Round Money Amounts to Two Decimal Places

question 237

Multiple Choice

Solve. If needed, round money amounts to two decimal places and all other amounts to one decimal place.
-The owners of a candy store want to sell, for $6 per pound, a mixture of chocolate-covered raisins, which usually sells for $3 per pound, and chocolate-covered macadamia nuts, which usually sells
For $8 per pound. They have a 40-pound barrel of the raisins. How many pounds of the nuts should
They mix with the barrel of raisins so that they hit their target value of $6 per pound for the
Mixture?

• A) 60 lb
• B) 56 lb
• C) 64 lb
• D) 52 lb

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Definitions:

Coupon

The interest rate stated on a bond when issued, which is paid by the issuer to the bondholder at specified intervals.

Indenture

A formal legal agreement, contract, or document, especially one outlining the terms of a bond or trust.

Deferred Call

Call provision prohibiting the company from redeeming the bond before a certain date.

Coupon Rate

The interest rate on a bond, expressed as a percentage of the bond's face value, paid by the bond issuer to the bondholder at specified intervals.