A $10,000 Face Value STRIPS Is Currently Quoted at 38

question 78

Multiple Choice

A $10,000 face value STRIPS is currently quoted at 38.642 and has 11 years to maturity. What is the yield-to-maturity?

• A) 4.26 percent
• B) 4.30 percent
• C) 8.48 percent
• D) 8.65 percent
• E) 8.83 percent

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Definitions:

Cilia

Microscopic hair-like structures that extend from the surface of many cell types, involved in movement and sensory functions.

Echolocation

The ability to use sound to locate objects in space.

Identify

To identify means to establish the identity of someone or something, recognizing them as being a particular person or thing.

Objects

Items, entities, or data structures that are identifiable and distinguishable by specific characteristics.