A company wants to raise 50000 in the bond market the bonds


A company wants to raise $50,000 in the bond market. The bonds pay 12% and are offered for sale at a discounted amount of $45,000. The bonds pay monthly over a 29 year period. What is the effective interest rate of the bond?

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Microeconomics: A company wants to raise 50000 in the bond market the bonds
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