Question: A bond with no expiration date has a face value of $ 1 8 , 0 0 0 and pays a fixed 1 6 percent

A bond with no expiration date has a face value of $18,000 and pays a fixed 16 percent interest. If the market price of the bond rises to $19,000, the annual yield approximately equals
Multiple Choice
15 percent.
14 percent.
16 percent.
7 percent.
A bond with no expiration date has a face value

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