Problem
Contributed by Meenakshi Sundaram, Tennessee Tech University
A 9%, $10,000 bond that has interest payable semiannually sells for $8500. Determine what the maturity date should be so that the purchaser may enjoy a 12% nominal rate of return on this investment.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.