A pure discount (or zero-coupon) government bond
Subject: Business / Finance
Question
A pure discount (or zero-coupon) government bond has a face value of $10,000 and a yield of 4.88 percent. If the current price of the bond is $6,800, what is the maturity of the bond? (Recall that the compounding interval for bonds is 6 months.) (Choose the closest round number in years.)
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