Question
Hi there, I believe I'm missing a step in the calculation on this problem. Any help is greatly appreciated. Thank you for your time! There
Hi there,
I believe I'm missing a step in the calculation on this problem. Any help is greatly appreciated. Thank you for your time!
There is a bond that has a quoted price of 94.023 and a par value of $2,000. The coupon rate is 6.51 percent and the bond matures in 13 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate?
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Entrepreneurial Finance
Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
