M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 11.44% with bond interest payable semiannually. Six years ago, $1,013 was paid for thebond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be:Enter your answer as follow: 1234.56

The rate of return on bond is difference between the selling price and purchase price of bond and…

Answered: ond. At least a 12% return (yield) on…

ond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be: nter your answer as follow: 1234.56

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 11.44% with bond interest payable semiannually. Six years ago, $1,013 was paid for the
bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be:
Enter your answer as follow: 1234.56

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