If you want to have $12,500 in 57 months, how much money must you put in a savings account
today? Assume that the savings account pays 4.5% and it is compounded quarterly; round to
nearest $1.
A) $10,387 B) $8,459 C) $11,129 D) $10,106
D
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The public market for new speculative-grade bonds, also known as high-yield or junk bonds, was created virtually single-handedly by Michael Milken and his firm, Drexel Burnham Lambert, in the late 1970s
Prior to that time, the only corporate bonds that carried a speculative-grade rating were so-called _____, bonds that initially garnered an investment-grade rating, but later the issuer experienced financial distress so that their rating fell into the speculative-grade category. a. discount bonds b. concession bonds c. fallen angels d. cut rate bonds