
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Use the method of averages to find the approximate yield rate for the bond with the following characteristics:
Face value = $46,000
Bond rate payable semi-annually = 5%
Time before redemption: 4 years 3 months
Redeemed at: par
Market quotation = 95.875
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