Question
A 5-year zero with a face value of $1,000,000 is sold for $650,000. Expressed as a three-digit decimal (e.g., 7.5% would be 0.075), what is
A 5-year zero with a face value of $1,000,000 is sold for $650,000. Expressed as a three-digit decimal (e.g., 7.5% would be 0.075), what is the annualized yield to maturity of this zero-coupon bond?
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Fatal Numbers Why Count On Chance
Authors: Hans Magnus Enzensberger ,Karen Leeder
1st Edition
1935830015, 978-1935830016
