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(Created page with "A 15-year bond with semiannual coupons is purchased for 2895.28. The bond is redeemable for 1000. The first coupon payment is equal to R and each subsequent coupon is 1% larger than the previous coupon payment. The annual nominal yield rate on this bond is 6.2% convertible semiannually. Calculate R. <ul class="mw-excansopts"><li>110</li><li>114</li><li>122</li><li>128</li><li>132</li></ul> {{soacopyright | 2023 }} {{soacopyright | 2023 }}") |
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<ul class="mw-excansopts"><li>110</li><li>114</li><li>122</li><li>128</li><li>132</li></ul> | <ul class="mw-excansopts"><li>110</li><li>114</li><li>122</li><li>128</li><li>132</li></ul> | ||
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Latest revision as of 22:43, 19 November 2023
A 15-year bond with semiannual coupons is purchased for 2895.28. The bond is redeemable for 1000. The first coupon payment is equal to R and each subsequent coupon is 1% larger than the previous coupon payment. The annual nominal yield rate on this bond is 6.2% convertible semiannually.
Calculate R.
- 110
- 114
- 122
- 128
- 132
Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.