Consider a bond that costs $1,000 today and promises a one-time future payment of $1,080 in four years. What is the approximate interest rate on this bond?
A) 2%
B) 4%
C) 8%
D) 10.8%

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The Answer of Consider a bond that costs $1,000 today and promises a one-time future payment of $1,080 in four years. What is the approximate interest rate on this bond?
A) 2%
B) 4%
C) 8%
D) 10.8%

Consider a Bond That Costs $1,000 Today and Promises a One-Time