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Please answer question and show all work/steps. Thanks! The quoted ask yield on a 14-year $1,000 par T-bond with a 7 percent semiannual payment coupon
Please answer question and show all work/steps. Thanks!
The quoted ask yield on a 14-year $1,000 par T-bond with a 7 percent semiannual payment coupon and a price quote of 98:15 is 18. A. 7.00 percent. B. 7.18 percent. C. 7.30 percent. D. 3.59 percent. E. 3.63 percent. $984.688 = $35x PVIFA (1%, 28) + $1,000 x PVIF (1%, 28) Step by Step Solution
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