Homework answers / question archive / Use the method of averages to find the approximate yield rate for the bond shown in the table below

Use the method of averages to find the approximate yield rate for the bond shown in the table below

Finance

Share With

Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed at par.

Face value = $7,000

Bond rate, payable semiannually = 10%,

Time before maturity = 5 years

Market quotation = 103.375

The yield rate?