Mark Crane purchased a $1,000 corporate bond five years ago for $1,060. The bond pays 4.5 percent

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Mark Crane purchased a $1,000 corporate bond five years ago for $1,060. The bond pays 4.5 percent annual interest. Five years later, he sold the bond for $950. Calculate the total return for Mr. Crane's bond investment.

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Personal Finance

ISBN: 978-0077861643

11th edition

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes

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Question Posted: Sep 15, 2017 12:29 PM

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Mark Crane purchased a $1,000 corporate bond five years ago for $1,060. The bond pays 4.5 percent

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The total return is 11500 calculated as follo...View the full answer

Personal Finance

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