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An investor buys a zero-coupon bond with par value $1,000 for $493.63. The maturity date is Y years and the yield rate convertible semi-annually is
An investor buys a zero-coupon bond with par value $1,000 for $493.63. The maturity date is Y years and the yield rate convertible semi-annually is 8%. Calculate Y
ANSWER: 9 YEARS
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Financial Accounting A Concepts Based Introduction
Authors: David Kolitz
1st Edition
1138844977, 978-1138844971
