Question: DO NOT round answer/steps (1 point) Mr. Weber purchases a $6000 bond, that pays interest at j12 = 8% and is redeemable at 97 in

DO NOT round answer/steps (1 point) Mr. Weber purchases a $6000

DO NOT round answer/steps

(1 point) Mr. Weber purchases a $6000 bond, that pays interest at j12 = 8% and is redeemable at 97 in 12 years. He bought the bond at a price to yield 112 = 8.75% if held until maturity. After 7 years, he sells the bond to another investor who will yield 112 = 7.55% if held until maturity. Approximate Mr. Weber's yield on his investment over the 7-year period, using method of averages? Answer: % (1 point) Mr. Weber purchases a $6000 bond, that pays interest at j12 = 8% and is redeemable at 97 in 12 years. He bought the bond at a price to yield 112 = 8.75% if held until maturity. After 7 years, he sells the bond to another investor who will yield 112 = 7.55% if held until maturity. Approximate Mr. Weber's yield on his investment over the 7-year period, using method of averages? Answer: %

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