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On May 27. 1994 Jen Mago purchased a new $18000 fifteen-year 10% bond with annual coupons and a redemption payment of $19000. Jen sold the
On May 27. 1994 Jen Mago purchased a new $18000 fifteen-year 10% bond with annual coupons and a redemption payment of $19000. Jen sold the bond to Edna Wilder on December 31, 2000. The semi-practical clean price for the sale was $18375; This was based on her market price and the "30/360" method for counting days. Still working on a "30/360" basis, find her annual yield rate J and theoretical clean price
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