Province of ontario stripped coupons in a self-administered

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Reference no: EM13660290

On February 2, 2013, an investor held some Province of Ontario stripped coupons in a self-administered RRSP at ScotiaMcLeod, an investment dealer. Each coupon represented a promise to pay $100 at the maturity date on January 13, 2019 but the investor would receive nothing until then. The value of the coupon showed as $76.24 on the investor's screen. This means that the investor was giving up $76.24 on February 2, 2013 in exchange for $100 to be received just less than six years later. that on February 2, 2014, the security's price was $85. If an investor had purchased it for $76.24 a year earlier and sold it on this day, what annual rate of return would she have earned?

Reference no: EM13660290

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Province of ontario stripped coupons in a self-administered : Province of Ontario stripped coupons in a self-administered

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