On 1/1/2020, Jetlag Corp. purchased 8% bonds with a par value of $50,000. The bonds pay interest semiannually at the end of each period and mature on 12/31/2023. Jetlag purchased the bonds for $43,790.21.

What is the ANNUAL yield (market rate) for these bonds? Enter your answer as number without the percentage sign (e.g., 3.5% would be entered as "3.5").

Answer rating: 100% (QA)

To find the annual yield market rate for the bonds well use the present value formula for bond v... View the full answer