Zero-coupon corporate bond with a face value

Reference no: EM13684726

An investor purchases a three-year, zero-coupon corporate bond with a face value of $100,000. At the time the original purchase was made, the yield on the bond was five percent. One year later, the investor sold the bond, and realized a rate of return on his investment of 4.5 percent. What was the price of the bond on the day it was sold?

Reference no: EM13684726

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