Bond interest payable quarterly

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Reference no: EM131321405

Andy wishes to sell a bond that has a face value of $1049. The bond bears an interest rate of 12.56% with bond interest payable quarterly. Three years ago, $1255 was paid for the bond. At least a 15.88% return (yield) on the investment is desired.

The quarterly bond interest payment that Andy received is:

Reference no: EM131321405

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