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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 77
On March 1, Wayne Michaels bought 10 Metro Petroleum bonds with a coupon rate of 9.125%. The purchase price was 88.875, and the commission was $6 per bond. Metro Petroleum bonds pay interest on February 1 and August 1.
a. What is the current yield of the bond
b. What is the total purchase price of the bonds
c. If Wayne sold the bonds on November 1 for 93.875, what are the proceeds from the sale
a. What is the current yield of the bond
b. What is the total purchase price of the bonds
c. If Wayne sold the bonds on November 1 for 93.875, what are the proceeds from the sale
Explanation
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Given that, on March 1 W bought 10 metro...
Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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