Question
A 1000 par value bond with coupons of 9% payable semiannually was called for 1100 prior to maturity. The bond was bought for 917.44 immediately
A 1000 par value bond with coupons of 9% payable semiannually was called for 1100 prior to maturity. The bond was bought for 917.44 immediately after a coupon payment and was held to call. The nominal yield rate convertible semiannually was 10%. Calculate the number of years the bond was held.
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
