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PLEASE ANSWER BOTH :) 1. An account was opened with an investment of $2,000 15 years ago. The ending balance in the account is $3,500.
PLEASE ANSWER BOTH :)
1. An account was opened with an investment of $2,000 15 years ago. The ending balance in the account is $3,500. What was the annual compound rate of return earned on this account?
2. Newts Companys 12 year bonds pay 6.5% coupons actually. The face value of the bonds is $1,000, and the yield to maturity on comparable bonds is 5.8%. How much would you have to pay for a bond?
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