Question
A $5,000 face value bond is quoted at a bank discount yield of 2.8 percent. What is the current value of the bond if it
A $5,000 face value bond is quoted at a bank discount yield of 2.8 percent. What is the current value of the bond if it matures in 36 days? please show work
I know the answer is $4,986, but i would like to see the work on how that answer is obtainted.
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Personal Finance
Authors: Jack Kapoor, Les R. Dlabay, Robert J. Hughes
2nd Edition
0256079056, 9780256079050
