Answered: A 10-year $1,000 par value bond sells…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A bond with face value $10,000 simple interest 6.45% and a term for 12 years is originally bought by Linda. After 33 months, she sells it to Carly for $11,400. Carly then holds on to it for 7 years, eventually selling it to Mike for $14,950. Mike keeps the bond until matures and cashes it in. What is Linda's profit?
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A 10-year $1,000 par value bond sells for $950 and pays a 6% annual coupon. What is the capital gains yield for this bond during its first year of ownership