If a Canadian Savings Bond Can Be Purchased for $29

question 31

Multiple Choice

If a Canadian Savings bond can be purchased for $29.50 and has a maturity value at the end of 25 years of $100, what is the annual rate of return on the bond?

• A)5%
• B)6%
• C)7%
• D)8%

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Definitions:

Packet

A small container or envelope designed to hold or transport items, or a formatted unit of data for transmission.

Loyalty Programs

Sales promotions that allow consumers to accumulate points or other benefits for doing business with the same company.

Sales Promotions

Marketing activities that aim to temporarily increase interest, demand, or sales of a product or service through offers or incentives.

Consumers

Individuals or households that purchase goods and services for personal use.