A $50 000, 11% bond with semi-annual coupons redeemable at par on April 15, 2026, was purchased

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A $50 000, 11% bond with semi-annual coupons redeemable at par on April 15, 2026, was purchased on June 25, 2019, at 92.375. What was the approximate yield rate?

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Question Posted: Oct 27, 2020 07:09 AM

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A $50 000, 11% bond with semi-annual coupons redeemable at par on April 15, 2026, was purchased

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Yield is the percentage of earnings a person receives ...View the full answer

Contemporary Business Mathematics With Canadian Applications

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