Business, 11.03.2020 23:13, madisonwr

Ryan purchased a bond for $980 at the beginning of 2011. He received annual interest payments of $55 at the end of each year through 2016 when the bond was redeemed at its face value of $1,000. Compute the yield (internal rate of return) Ryan earned on his bond purchase.

A) 5.50%

B) 5.61%

C) 5.91%

D) .34%

Answers: 3

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Ryan purchased a bond for $980 at the beginning of 2011. He received annual interest payments of $55...