It has a life of 10 years and a face value of 5000 if it is


A bond has semiannual interest payments at a nominal annual rate of 12%. It has a life of 10 years and a face value of $5000. If it is currently selling for $4270, what is the effective interest rate? (Answer: 15.4%)

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Business Economics: It has a life of 10 years and a face value of 5000 if it is
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