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Mary is interested to invest a $50,000, 6% bond with semi-annual coupons redeemable at par on April 25, 2018, was purchased on June 25, 2009,
Mary is interested to invest a $50,000, 6% bond with semi-annual coupons redeemable at par on April 25, 2018, was purchased on June 25, 2009, at 94.378. Use the method of averages to calculate the approximate yield rate for Marys investment if the number of years to maturity is 9 years?
All steps with formula please. Avoid excel sheet please.
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