Clarissa Finley purchased a $1,000 bond at a quoted price of 80.25. The bond pays interest at a rate of 6.5%. What is the annual yield?

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pageantperfectp1zglk pageantperfectp1zglk

03-01-2018
Mathematics

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Clarissa Finley purchased a $1,000 bond at a quoted price of 80.25. The bond pays interest at a rate of 6.5%. What is the annual yield?

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Ivka93 Ivka93 · Answer 1 · 2018-01-14T16:10:13+01:00

Ivka93 Ivka93

14-01-2018

Clarissa Finley purchased a 1,000 bond at a quoted price of $80.25:
1000*80.25$=$80250
$80250:100%=$x:6.5%
100*x=80250*6.5, x=$5216.25
The annual yield is $5216.25.

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melwillis18 melwillis18 · Answer 2 · 2021-03-25T15:46:01+01:00

melwillis18 melwillis18

25-03-2021

Answer:

8.1 %

Step-by-step explanation:

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