Zero-Coupon Bonds If Pat pays $15,334.65 for a $25,000face-value, zero-coupon bond that matures in 8 years, whatis his annual rate of return?

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.CR: Chapter Review
Problem 66E
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Zero-Coupon Bonds If Pat pays $15,334.65 for a $25,000
face-value, zero-coupon bond that matures in 8 years, what
is his annual rate of return?

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