Multiple Choice
Albert Greco paid $1,974 for a $10,000 strip bond 16 years before it reached maturity. What semi-annually compounded nominal rate will Albert earn on his investment?
A) 11.78%
B) 3.17%
C) 5.22%
D) 10.67%
E) 10.40%
Correct Answer:
Verified
Correct Answer:
Verified
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