A $10,000 mortgage bond with a bond interest rate Of 8% per year, payable quarterly, was purchased for $9200. The bond was kept until it was due, a total of 7 years. What rate of return was made by the purchaser per 3 months and per year. (nominal)
A $10,000 mortgage bond with a bond interest rate Of 8% per year, payable quarterly, was purchased for $9200. The bond was kept until it was due, a total of 7 years. What rate of return was made by the purchaser per 3 months and per year. (nominal)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A $10,000 mortgage bond with a bond interest rate Of 8% per year, payable quarterly, was purchased for $9200. The bond was kept until it was due, a total of 7 years. What
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