Determine what the maturity date should be so that the, Business Economics

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Determine what the maturity date should be so that the

Contributed by Meenakshi Sundaram, Tennessee Tech University

A 9%, $10,000 bond that has interest payable semiannually sells for $8500. Determine what the maturity date should be so that the purchaser may enjoy a 12% nominal rate of return on this investment.

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