What rate of return per quarter will the investor realize


A City issued $2,000,000 in bonds to renovate a building. The bond coupon rate is 6% per year, payable quarterly, with a maturity date of 15 years from now. If an investor is able to purchase one of the bonds having a face value of $25,000 for $24,000, what rate of return per quarter will the investor realize? Assume the bond is kept to maturity.

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Financial Management: What rate of return per quarter will the investor realize
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