Question
A certain bond is redeemable for $1000 in 9 years. Until then, the bond will pay $24 in interest twice per year. If you can
A certain bond is redeemable for $1000 in 9 years. Until then, the bond will pay $24 in interest twice per year. If you can purchase the bond today on the secondary market for $745, what will be: a. The nominal annual yield rate for this bond?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
