Question
19) Assume a zero-coupon bond that sells for $272 will mature in 15 years at $1,300. UseAppendix Bfor an approximate answer but calculate your final
19)
| Assume a zero-coupon bond that sells for $272 will mature in 15 years at $1,300. UseAppendix Bfor an approximate answer but calculate your final answer using the formula and financial calculator methods. |
| What is the effective yield to maturity?(Assume annual compounding. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) |
| Effective yield to maturity | % |
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Basic Finance An Introduction to Financial Institutions, Investments and Management
Authors: Herbert B. Mayo
11th Edition
1285425790, 1285425795, 9781305464988 , 978-1285425795
