In Section 31.3 we described a six-month bill that was issued on an annually compounded yield of
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In Section 31.3 we described a six-month bill that was issued on an annually compounded yield of 5.19 percent. Suppose that one month has passed and the investment still offers the same annually compounded return. What is the percentage discount? What was your return over the month?
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The annually compounded yield of 519 is equivalent to a fivemo...View the full answer
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Related Book For
Principles of Corporate Finance
ISBN: 978-0072869460
7th edition
Authors: Richard A. Brealey, Stewart C. Myers
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