Question
There is a bond that has a quoted price of 107.324 and a par value of $2,000. The coupon rate is 7.08 percent and the
There is a bond that has a quoted price of 107.324 and a par value of $2,000. The coupon rate is 7.08 percent and the bond matures in 18 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate?
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Contemporary Issues In Development Finance
Authors: Joshua Yindenaba Abor, Robert Lensink, Charles Komla Delali Adjasi
1st Edition
1138324329, 978-1138324329
