Multiple Choice
Jessica paid $6,200 for a bond with a face value of $6,000. She will be paid $350 annually as long as she holds on to the bond, until the bond's maturity date. The yield on the bond is
A) 5.6 percent.
B) 5.8 percent.
C) 15.6 percent.
D) 2.0 percent.
Correct Answer:
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