Question
A zero coupon bond with a face value of $1,000 is issued with an initial price of $445.50. The bond matures in 16 years. What
A zero coupon bond with a face value of $1,000 is issued with an initial price of $445.50. The bond matures in 16 years. What is the implicit interest earned, in dollars, for the first year of the bond's life?
A) $11.55
B) $6.94
C) $12.43
D) $23.09
E) $13.87
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
