Assume that an investor pays $850 for a long-term bond that carries a 10% coupon. In three
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Assume that an investor pays $850 for a long-term bond that carries a 10% coupon. In three years, he hopes to sell the issue for $975. If his expectations come true, what yield will this investor realize? (Use annual compounding.) What would the holding period return be if he were able to sell the bond (at $975) after only nine months?
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N 3 PV 850 PMT 100 FV 975 I 1596 The yield on this invest...View the full answer
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Related Book For 
Fundamentals Of Investing
ISBN: 9780135175217
14th Edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
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