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| rev | Admin | (Created page with "'''Solution: E''' The bond sells at a premium, so the worst-case scenario is redemption at time six. Then, <math display = "block"> \begin{array}{l}{{1023=1000\frac{i}{0.96}a_{\overline{{{6}}}|i}+1000(1+i)^{-6}}}\\ {{=\frac{1000}{0.96}[1-(1+i)^{-6}]+1000(1+i)^{-6}}}\\ {{(1+i)^{-6}=0.448}}\\ {{\dot{\displaystyle i=0.448^{-1/6}-1=0.1432}}}\\ i=14.32\% \end{array} </math> {{soacopyright | 2023 }}") | Nov 19'23 at 19:21 | +399 |