A $10 000, 7.5% bond with quarterly coupons, redeemable at par on October 15, 2028, was purchased

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A $10 000, 7.5% bond with quarterly coupons, redeemable at par on October 15, 2028, was purchased on May 5, 2016, at 98.75. What is the approximate yield rate?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Sep 21, 2024 05:20 AM

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A $10 000, 7.5% bond with quarterly coupons, redeemable at par on October 15, 2028, was purchased

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Quoted price 10 0000009875 987500 Principal 1000000 Average b...View the full answer

Contemporary Business Mathematics with Canadian Applications

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