candyapples1212 candyapples1212

22-03-2017
Mathematics

Answered

Lacy has a $1000 bond with a 6.2% coupon that she purchased for $1025. What is the yield of this bond? Round your answer to 2 decimal places.

Verified Answer :

BriTheCurious BriTheCurious

22-03-2017

So the question is asking what is 6.2% of 1000? Then rounding our decimals?

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makaylaroose makaylaroose

31-08-2020

Answer:

6.04%

Step-by-step explanation:

multiply the coupon rate with the face value, and divide with the purchase price

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