Question
There is a bond that has a quoted price of 105.039 and a par value of $2,000. The coupon rate is 6.87 percent and the
There is a bond that has a quoted price of 105.039 and a par value of $2,000. The coupon rate is 6.87 percent and the bond matures in 25 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate?
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Urban Infrastructure Finance And Management
Authors: K. Wellman, Marcus Spiller
1st Edition
0470672188, 978-0470672181
