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Category > Business & Finance Posted 07 Jun 2017 My Price 9.00

Three years ago, you purchased a bond for $974.69.

Three years ago, you purchased a bond for $974.69. The bond had three years to maturity, a coupon rate of 8% paid annually, and a face value of $1,000. Each year you reinvested all coupon interest at the prevailing reinvestment rate shown in the table below. Today is the bond's maturity date. What is your realized compound yield on the bond?

Time

Prevailing reinvestment rate

0 (purchase date)

6.0%

1

7.2%

2

9.4%

3 (maturity date)

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Status NEW Posted 07 Jun 2017 06:06 AM My Price 9.00

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