Solutions to Chapter 1

Foreign exchange rates. ... APR = 1.599 % ( 12 = 19.188%. The effective annual rate is: (1.01599)12 ( 1 = 0.2097 = 20.97% 29. ... of return Treasury bills 4.0% 3.0% 0.97% Treasury bonds 5.3% 3.0% 2.23% Common stocks 11.6% 3.0% 8.35% 6. The nominal interest rate cannot be negative. If it were, investors would choose to hold cash (which pays a ... ................
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