'Directions on how to use the 'Financial Calculator'
Solve for the rate of return of an investment every month Suppose you bought a bond for $985. The bond will pay you $7.50 monthly for the next 7 and a half years. At the end of that time, the corporation that issued the bond will redeem the bond for $1050. What rate of return will you realize on the bond if you hold it to the maturity date? ................
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