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  3. you bought an eight year bond with annual coupons

You bought an eight year bond with annual coupons of $100 each. The bond is...

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Geometry

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You bought an eight year bond with annual coupons of $100 each. The bond is redeemed at $1500. As you collect the coupon payments, you deposit them into an account that gains interest at 5% per year. Immediately after you transfer the last coupon along with the redemption value into the 5% interest account, how much is in this account? Round your answer to the nearest dollar.26829552146245523006461662

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