Scooter wishes to sell a bond that has a face value of $1,075. The bond bears an interest rate of 9.85% with bond interest payable quarterly. Three years ago, $1,396 was paid for the bond. At least a 11.12% return (yield) on the investment is desired. The quarterly bond interest payment that Scooter received is:

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
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Scooter wishes to sell a bond that has a face value of $1,075. The bond bears an interest rate of 9.85% with bond
interest payable quarterly. Three years ago, $1.396 was paid for the bond. At least a 11.12% return (yield) on the
investment is desired.
The quarterly bond interest payment that Scooter received is:
Transcribed Image Text:Scooter wishes to sell a bond that has a face value of $1,075. The bond bears an interest rate of 9.85% with bond interest payable quarterly. Three years ago, $1.396 was paid for the bond. At least a 11.12% return (yield) on the investment is desired. The quarterly bond interest payment that Scooter received is:
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