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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 116
Solve the following application problem using 360-day years where applicable.
Martin Wicker buys 9000 GM bonds due in 2020 at 104.38 for the pension fund he manages. The coupon rate is 6.4%. Find (a) the cost to purchase the bonds if the commission is $1 per bond, __________ (b) the annual interest from all of the bonds, __________ and (c) the effective interest rate. __________ [11.5]
Martin Wicker buys 9000 GM bonds due in 2020 at 104.38 for the pension fund he manages. The coupon rate is 6.4%. Find (a) the cost to purchase the bonds if the commission is $1 per bond, __________ (b) the annual interest from all of the bonds, __________ and (c) the effective interest rate. __________ [11.5]
Explanation
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Since they purchase the bonds is at , ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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