Multiple Choice
If Trundell Co. Ltd. issued 12-year debt by way of a zero coupon (strip) bond with a nominal value of $15,000,000 and received $6,660,200 at issue, what interest rate did Trundell pay on its bond?
A) 16%
B) 7.0%
C) 3.7%
D) 4.4%
E) 25%
Correct Answer:
Verified
Correct Answer:
Verified
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