A man purchases a bond for $1,000. The bond has a...
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Accounting
A man purchases a bond for $1,000. The bond has a face value of $1,500 and pays semi-annual interest payments of $75 each. If the bond is paid in full after 10 years, what annual rate of return will the man receive? a. 4.92% b. 8.14% c. 10.55% d. 10.24% e. 8.53%
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