A pure discount (or zero-coupon) government bond has a face value of $10,000 and a yield of 4.88 percent. If the current price of the bond is $6,800, what is the maturity of the bond? (Recall that the compounding interval for bonds is 6 months.) (Choose the closest round number in years.)
A mutual fund pays 3.6% APR compounded monthly. How much money should I deposit in the account today if I want the balance of the account to be $8,000 in 10 years? Round to the nearest cent. a) A= P= PMT= APR= n= Y= SOLUTION: Deposit =
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