Use the method of averages to find the approximate yield rate for each of the six bonds
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Face Value $10 000 5 000 25 000 1000 50 000 20 000 Bond Rate Payable Semi-annually 6% 10.5 7.5 8.5 Time Before Maturity 15 years years 10 years 8 years 5 years, 4 months 9 years, 8 months Market Quotation 2. 3. 4. 5. 6. 101.375 94.75 97.125 101 98.875 109.25
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1 Quoted price initial book value 10 00000101375 10 13750 Principal 10 00000 Average book value 12 10 13750 10 00000 10 06875 The semiannual interest ...View the full answer
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Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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