A $10 000, 12% bond with semi-annual coupons redeemable at par on December 1, 2024, was purchased

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A $10 000, 12% bond with semi-annual coupons redeemable at par on December 1, 2024, was purchased on July 20, 2013, at 93.875. Compute 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 04:17 AM

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A $10 000, 12% bond with semi-annual coupons redeemable at par on December 1, 2024, was purchased

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Contemporary Business Mathematics with Canadian Applications

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