A $50,000 Face Value STRIPS Matures in 12 Years and Has

question 32

Multiple Choice

A $50,000 face value STRIPS matures in 12 years and has a yield to maturity of 6.50 percent.What is the current dollar price of this security?

• A) $21,199.68
• B) $23,206.44
• C) $25,038.18
• D) $26,141.41
• E) $28,809.18

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Definitions:

Relative Cell References

In spreadsheet software, a cell reference that adjusts automatically when the formula containing it is moved to another cell.

Formula Location

The specific cell or range of cells in a spreadsheet where a mathematical calculation is performed.

Sequential Values

A series of numbers or items arranged in a specific, consecutive order.

Named Range

A feature in spreadsheet software that allows a user to assign a descriptive name to a cell or range of cells for easy reference.