Answer :
Answer:
Explanations:
The total return earned by the bond can be derived by using the amount formula as shown:
[tex]\text{Amount = Face Value + Interest}[/tex]Given the following parameters
Face value = $14,000
Rate (in %) = 6.85% = 0.0685
Time (in years) = 10 months = 10/12 years
Get the Interest
[tex]\begin{gathered} I=\text{PRT} \\ I=14,000\times0.0685\times\frac{10}{12} \\ I=\frac{9590}{12} \\ I=\$799.17 \end{gathered}[/tex]Get the required t