Question
An investor purchases a zero coupon bond with 19 years to maturity at a price of $357.74. The bond has a par value of $1,000.
An investor purchases a zero coupon bond with 19 years to maturity at a price of $357.74. The bond has a par value of $1,000. What is the implicit interest for the first year? Assume semiannual compounding.
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Financial Management Theory And Practice
Authors: Eugene F Brigham, Michael C Ehrhardt
11th Edition
0324259689, 9780324259681
