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A 10-year. 9.00%. $3,000 bond that pays dividends quarterly can be purchased for $2, 618. This means that $2, 618 is spent on the bond

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A 10-year. 9.00%. $3,000 bond that pays dividends quarterly can be purchased for $2, 618. This means that $2, 618 is spent on the bond now. Every quarter. $67.50 is provided to the purchaser as the dividend. After 10 years, $3,000 is given to the purchaser. If the bond is purchased and pays as scheduled, which of the following ranges of effective rate of return will the purchaser receive? 9.50% -10.45% 9.00% - 9.50% 11.71%-13.71% 10.70%-11.70%

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