Answered step by step
Verified Expert Solution
Link Copied!

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.

image text in transcribed

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction to Finance Markets Investments and Financial Management

Authors: Melicher Ronald, Norton Edgar

15th edition

9781118800720, 1118492676, 1118800729, 978-1118492673

Students also viewed these Finance questions