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Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be
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 Bond Rate Payable Semi-annually Face Value Time Before Maturity Market Quotation $4000 7% 9 years 97 376 The yield rate is % (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed)
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
