An investor purchased a five percent 1000 30-year bond for, Microeconomics

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An investor purchased a five percent 1000 30-year bond for

An investor purchased a five percent, $1000 30-year bond for $850 with 22 years to maturity. The interest was payable quarterly. The bond was kept for only nine years and sold for $950 immediately after the 36th interest payment was received. What nominal and effective rates of return per year were made on this investment?

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Microeconomics: An investor purchased a five percent 1000 30-year bond for

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Microeconomics: An investor purchased a five percent 1000 30-year bond for

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