Question
Assume a zero-coupon bond that sells for $412 will mature in 15 years at $2,250. Use Appendix B for an approximate answer but calculate your
| Assume a zero-coupon bond that sells for $412 will mature in 15 years at $2,250. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. |
| What is the effective yield to maturity? (Assume annual compounding. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) |
| Effective yield to maturity | % |
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Basic Finance An Introduction To Financial Institutions Investments And Management
Authors: Herbert B. Mayo, Michael J Lavelle
13th Edition
0357714741, 978-0357714744
