Question
Consider a bond that pays semiannual coupons at 12% for 10 years. This bond has a face value of $1,000 , a redemption value of
Consider a bond that pays semiannual coupons at 12% for 10 years. This bond has a face value of $1,000, a redemption value of $1,050 and a price of $650. Use Salesman's formula to approximate the yield rate on that bond.
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Note: Please answer in detail showing every step, thank you. ( And please do not copy previous chegg answers)
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Financial Freedom
Authors: Timothy Turner
1st Edition
1801573573, 978-1801573573
