Simple Interest: An investor bought a 91-day government bond with a face value of 100,000 USD to
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Question:
Simple Interest:
An investor bought a 91-day government bond with a face value of 100,000 USD to yield an annual rate of return of 0.99%.
On the same day, the investor sold the bond to yield 0.95%.
Calculate the profit on the sale of the bond.
Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
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