Sandavol county issues AA-rated bonds at a net interest cost of 6.85%. If annual interest payments promised on these bonds amount $12.75 million, what was the principal amount of municipal bond?
Sandavol county issues AA-rated bonds at a net interest cost of 6.85%. If annual interest payments promised on these bonds amount $12.75 million, what was the principal amount of municipal bond?
simple math; invert the interest formula ie; interest = principle x rate therefore principle = interest/rate
All times are GMT -7. The time now is 09:28 PM. |