MCV4U - Tricky Scalar Projection of Vectors Example - Grade 12 Calculus and Vectors

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A firm current redeemable debentures worth $8 million issued at 10% rate of interest per annum. The debentures are due for redemption at par 10 years from now. Assuming interest on debenture is paid on 31st December and current market price of each debenture is $110 ignoring corporate income tax. What is the effective rate of interest or YTM?

can you help solving this question. thanks

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