Question: Problem 1 5 . ( 1 point ) ( Exercise 6 . 3 8 ) A $ 2 1 0 0 par value 9 %

Problem 15.(1 point)
(Exercise 6.38)
A $2100 par value 9% preferred stock with quarterly dividends is bought to yield 7% convertible quarterly into perpetuity. However, the preferred stock is actually called at the end of 8 years at par. Find the nominal yield rate convertible quarterly that an investor would actually earn over the 8-year period.
ANSWER =6.
Problem 1 5 . ( 1 point ) ( Exercise 6 . 3 8 ) A

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