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A P 1,000,000 issue of 3%, 15-year bond was sold at 95%. What is the rate of interest of this investment?

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A P 1,000,000 issue of 3%, 15-year bond was sold at 95%. What is the rate of interest of this investment?
  • A3.0%
  • B3.4%
  • C3.7%
  • D4.0%
Correct answer: A

Discussion 1

0
CCommunity
3.0%