A $10,000 mortgage bond with a bond interest rate of 8% per year, payable quarterly, was purchased

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A $10,000 mortgage bond with a bond interest rate of 8% per year, payable quarterly, was purchased for $9200. The bond was kept until it was due, a total of 7 years. What rate of return was made by the purchaser per 3 months and per year (nominal)?

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Dec 12, 2018 10:38 AM

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A $10,000 mortgage bond with a bond interest rate of 8% per year, payable quarterly, was purchased

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I 100000084 200 per quarter 0 9200 ...View the full answer

Engineering Economy

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