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A discount bond has a face value of 10000 and promises

Problem:

A discount bond has a face value of $10000 and promises repayment at the end of 15 years and has a market price of $3541. What is its effective yield?

Additional Information:

This question is from Finance as well as it is about computing the effective yield of discount bond which promises repayment at the end of 15 years. The solution has the computation to this problem.

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Finance Basics: A discount bond has a face value of 10000 and promises

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Finance Basics: A discount bond has a face value of 10000 and promises

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