Last year, Eric bought a bond for $10,000 that promises to pay him $700 per year. This year, he can buy a bond for $10,000 that promises to pay $800 per year. If Eric wants to sell his old bond, what is its price likely to be?

the price is $8,750

Explanation:

The computation of the price is shown below:

The rate of interest in the last year is

= Paid amount ÷ purchased value of the bond

= $700 ÷ $10,000

= 7%

ANd, in the current year, the rate of interest is 8%

So, the price would be

= Paid amount ÷ current year rate of interest

= $700 ÷ 0.08

= $8,750

Hence, the price is $8,750

We simply applied the above formula so that the correct value could come

And, the same is to be considered

answer; i believe that (pastoral society) is the correct answer;

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough