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3) A bond is purchased for $7,600 with a face value $9,000 and redemption value $10,000 in 5 years a) Calculate the coupon rate needed
3) A bond is purchased for $7,600 with a face value $9,000 and redemption value $10,000 in 5 years a) Calculate the coupon rate needed for a desired yield of 8% b) Approximate the yield if the coupon rate 5%
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
