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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Accounting
Authors: John Hoggett, John Medlin, Keryn Chalmers, Beattie Claire, Hellmann Andreas, Maxfield Jodie
10th Edition
9780730363224
