Personal Finance (MindTap Course List)
Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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Chapter 2.1, Problem 1CC
Summary Introduction

To Explain: The meaning of career planning and its importance.

Introduction: Every individual doing or intending to do a job should seriously focus on career planning. Instead of just engaging in a job that pays a regular salary, much emphasis should be laid upon properly planning the path one’s career would take one.

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Yan Yan Corp. has a $2,000 par value bond outstanding with a coupon rate of 4.7 percent paid semiannually and 13 years to maturity. The yield to maturity of the bond is 5.05 percent. What is the dollar price of the bond?
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