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An investor purchases a zero coupon bond with 22 years to maturity at a price of $311.99. The bond has a par value of $1,000.
An investor purchases a zero coupon bond with 22 years to maturity at a price of $311.99. 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 Mathematics Derivatives And Structured Products
Authors: Chan
1st Edition
9811336954, 978-9811336959
