If today with 18 years to maturity the bond is priced to


Question

Two years ago. Bob purchased a 20-year $1,000 par value zero-coupon bond for $311.80. If today (with 18 years to maturity) the bond is priced to yield 5.40%, what is his annualized return if he sells the bond?

Your answer should be between 4.02 and 22.46, rounded to 2 decimal places, with no special characters.

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Financial Management: If today with 18 years to maturity the bond is priced to
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