A bond was purchased for 1000 quarterly interest payments, Business Economics

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A bond was purchased for 1000 quarterly interest payments

A bond was purchased for $1000. Quarterly interest payments of 3.50 have been received. After 18 months the bond was sold for $1243.51. What is the annual effective interest rate earned on this bond?

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Business Economics: A bond was purchased for 1000 quarterly interest payments

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Business Economics: A bond was purchased for 1000 quarterly interest payments

Reference No:- TGS01485449

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