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majarm majarm
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6 years ago
Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to yield 7% compounded quarterly. Calculate the shortage of the actual interest received compared to the required interest based on the yield rate.
A) $337.50
B) $437.50
C) $100
D) $1350
E) $1750
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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6 years ago
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