A $7,500 Face Value STRIPS Matures in 8 Years and Is

question 61

Multiple Choice

A $7,500 face value STRIPS matures in 8 years and is currently quoted at a price of 65.24. What is the yield-to-maturity?

• A)3.21%
• B)3.38%
• C)4.87%
• D)5.41%
• E)5.76%

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Definitions:

Kidney Stones

Hard deposits made of minerals and salts that form inside the kidneys, which can cause severe pain and discomfort when passing through the urinary tract.

Condition

A state of health, physical situation, or the stipulations affecting an agreement or circumstance.

Laryngectomy

Surgical removal of the larynx or voice box.

Larynx

The voice box located in the throat, responsible for producing sound.