An investor paid $6315.29 to purchase a $10,000 face value strip bond for her RRSP. At this
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An investor paid $6315.29 to purchase a $10,000 face value strip bond for her RRSP. At this price the investment will provide a return of 3.47% compounded semiannually. How long (to the nearest day) after the date of purchase will the bond mature? Assume that each half-year is exactly 182 days long.
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The purchase price is the present value of the 10000 face value discounted at 347 co...View the full answer
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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