Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed at par Face Value Bond Rate Payable Semi-annually 6% $15,000 Time Before Redemption 6 years Market Quotation 95.875 Cectra The yield rate is 1%. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed at par Face Value Bond Rate Payable Semi-annually 6% $15,000 Time Before Redemption 6 years Market Quotation 95.875 Cectra The yield rate is 1%. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter12: Investing In Stocks And Bonds
Section: Chapter Questions
Problem 6FPE
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