Question
Jack buys a $445 bond that pays interest twice yearly at 15% p.a. and is redeemable at par in 10 years. The purchase price is
Jack buys a $445 bond that pays interest twice yearly at 15% p.a. and is redeemable at par in 10 years. The purchase price is $360. After 6 years, Jack sells this bond to Chris for $280. What yield j2 does Jack realise on his investment?
please give me a specific expaination !!
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Analysis for Financial Management
Authors: Robert C. Higgins
12th edition
1259918963, 9781260140729 , 978-1259918964
