Question
Problem 22-08 An investor purchases a bond for $949. The bond pays $70 a year for three years and then matures (it is redeemed for
Problem 22-08
An investor purchases a bond for $949. The bond pays $70 a year for three years and then matures (it is redeemed for $1,000). What is the internal rate of return on that investment? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest whole number.
The internal rate of return on a bond is %.
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The Basics Of Public Budgeting And Financial Management
Authors: Charles E. Menifield
4th Edition
0761872116, 978-0761872115
