1. Ben purchased a $10,000 municipal bond at a discount for $9,750 three years ago. The bond rate is 4% per year compoun
Posted: Fri Jul 01, 2022 7:10 am
1. Ben purchased a $10,000 municipal bond at a discount for$9,750 three years ago. The bondrate is 4% per year compounded quarterly. Currently there is abuyer who has offered Ben $10,300 for thebond. Ben wishes to earn 6% per year compounded quarterly on thebond investment that he has held for 3years. Should Ben sell the bond? Explain. Show all work.
Thank you in advance!
Thank you in advance!