Problem
Mildred can purchase a municipal bond with a par (face) value of $5000 that will mature in 31/2 years. The bond pays 8% interest compounded quarterly. If she can buy this bond for $4800, what rate of return will she earn? Contributed by Paul R. McCright, University of South Florida.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.