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23 January, 09:58

Clarissa Finley purchased a $1,000 bond at a quoted price of 80.25. The bond pays interest at a rate of 6.5%. What is the annual yield?

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  1. 23 January, 10:13
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    Clarissa Finley purchased a 1,000 bond at a quoted price of $80.25:

    1000*80.25$=$80250

    $80250:100%=$x:6.5%

    100*x=80250*6.5, x=$5216.25

    The annual yield is $5216.25.
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