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This means that $2,702 is spent on the bond now. Every quarter, $60.00 is provided to the purchaser as the dividend. After 10 years, $3,000

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This means that $2,702 is spent on the bond now. Every quarter, $60.00 is provided to the purchaser as the dividend. After 10 years, $3,000 is given to the purchaser. If the bond is purchased and pays as scheduled, which of the following ranges of effective rate of return will the purchaser receive? 9.60%10.60%8.00%8.50%10.61%12.61%8.50%9.35%

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