Find the Compound Interest Earned

question 44

Multiple Choice

Find the compound interest earned. Round to the nearest cent. Do not use an interest table.
-$19,000 at 10% compounded quarterly for year

• A)$6,289.00
• B)$1,407.89
• C)$1,460.92
• D)$5,700.00

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Definitions:

Dollar Denominated Bonds

Bonds issued in the United States that are payable in U.S. dollars, irrespective of the issuer's nationality.

Eurobonds

Bonds issued in a currency other than the home currency of the country or market in which it is issued, often used by companies to raise capital in international markets.

Foreign Bonds

These are bonds issued in a domestic market by a foreign entity, in the domestic market's currency, as a way for the issuer to raise capital from investors in that market.

Foreign Government

The governing authority of a nation, state, locality, or community outside of one's own country.