Question
You are considering the purchase of a semi-annual bond, with 7 years remaining until maturity. It has a $1,000 face value, with a coupon rate
You are considering the purchase of a semi-annual bond, with 7 years remaining until maturity. It has a $1,000 face value, with a coupon rate of 6%, and currently sells for $894.37 in the market. Given this information, what is the annual interest rate (APR) on this bond?
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An Introduction to Investment Banks, Hedge Funds, and Private Equity
Authors: David P. Stowell
1st edition
978-0123745033, 0123745039, 978-9380931074
