A $50 000, 11% bond with semi-annual coupons redeemable at par on April 15, 2022, was purchased

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A $50 000, 11% bond with semi-annual coupons redeemable at par on April 15, 2022, was purchased on June 25, 2015, at 92.375. What was the approximate yield rate?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:14 AM

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A $50 000, 11% bond with semi-annual coupons redeemable at par on April 15, 2022, was purchased

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Quoted price 50 00000092375 46 18750 Principal 50 00000 Av...View the full answer

Contemporary Business Mathematics with Canadian Applications

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