Question
Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed
Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed at par.
| Face Value | Bond Rate Payable Semi-annually | Time Before Maturity | Market Quotation |
| $2000 | 8% | 5 years | 98.625 |
The yield rate is ?
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Financial And Managerial Accounting
Authors: Nonso E Okpala
1st Edition
1634873904, 9781634873901
