You buy a bond for 1118 that pays 20 interest ever 6 months, Business Economics

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You buy a bond for 1118 that pays 20 interest ever 6 months

You buy a bond for $1118 that pays $20 interest ever 6 months. It will reach maturity in 9 years at which time it will return its face value of 1000 plus the final $20 interest payment. What is the pre-tax annual rate of return on this bond? Estimate to two decimal places

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Business Economics: You buy a bond for 1118 that pays 20 interest ever 6 months

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Business Economics: You buy a bond for 1118 that pays 20 interest ever 6 months

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