Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A bond had a price of $945.32 at the beginning of the year and a price of $975.43 at the end of the year.
A bond had a price of $945.32 at the beginning of the year and a price of $975.43 at the end of the year. The bond's par value is $1,000 and its coupon rate is 5 percent. What was the percentage return on the bond for the year? O 3.19% O 8.21% O 7.52% O 8.47%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started