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Cwds613 Cwds613
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A year ago
Erik Wells bought a Sandia Corporation convertible bond for $1,000. The bond was convertible to 50 shares of stock. At the time of the purchase, the stock was selling for $20 per share. At the end of two years, the stock was selling for $28 per share. Erik converted. Assuming the market value of the bond had not changed, how much profit did Erik realize by converting?
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Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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navgilnavgil
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A year ago
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A year ago
You make an excellent tutor!
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Thanks for your help!!
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Thank you, thank you, thank you!
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