Sandra owns a bond issued by Animite Energy with a par value of $1,000. The bond pays 7.6% interest yearly and had a market rate of 93.411 when Sandra bought it. If the current market rate of Animite Energy bonds is 102.382, what is the

current yield on Sandra's bond?

0.081

Step-by-step explanation:

For the calculation of the current yield on Sandra bond,

Annual interest of the bond = 7.6%

Current price of bond = 93.411

The current yield is equal to the annual interest earned divided by the current price of the bond.

The current yield on Sandra bond = Annual interest / Current price of bond

The current yield on Sandra bond = 7.6 / 93.411

The current yield on Sandra bond = 7.6 / 93.411

The current yield on Sandra bond = 0.0813608675637773

The current yield on Sandra bond = 0.081

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Step-by-step explanation:

just took test on edge

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