Misty received a $1,000 savings bond from her grandparents when she turned 10 . The...
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Accounting
Misty received a $1,000 savings bond from her grandparents when she turned 10 . The bond matures when she turns 25 , meaning Misty will receive $1,000 cash when she turns 25. Misty's friend Caitlyn offers to buy the savings bond from her for $1,000 on her 19 th birthday. Misty decides to refuse Caitlyn's offer. Assuming Misty was correct to refuse Caitlyn's offer to buy the bond for $1,000, what do you know about Misty's annual cost of capital (r) over the next six years
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