What is the time remaining until the maturity date of a $50,000 strip bond if it has just been purchased for $20,822.89 to yield 5.38% compounded semiannually until maturity?

Maturity Date

The particular date when the last payment of a loan, bond, or another financial instrument must be made.

Strip Bond

A Strip Bond is an investment vehicle created by separating a bond's periodic interest payments from its principal repayment obligation and selling each part as individual securities.

Yield Compounded

The process where investment gains earn additional earnings over time.