Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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A $9,000 bond matures in 10 years and pays 2 percent interest twice a year. If the bond sold for $7,000, what is the annual actual investment rate?
a.
b.
IRR = 5.10%
c.
IRR = 3.58%
d.
IRR = 6.23%
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