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A P 1,000,000 issue of 3%, 15-year bond was sold at 95%. What is the rate of interest of this investment ?
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A P 1,000,000 issue of 3%, 15-year bond was sold at 95%. What is the rate of interest of this investment ?
A. 3.0%
B. 3.4%
C. 3.7%
D. 4.0%
Correct Answer:
3.0%
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Last Updated:
January 22, 2019