Bonds issued by the Coleman Manufacturing Company have a par value of Approximate yield $1,000, which, of

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Bonds issued by the Coleman Manufacturing Company have a par value of Approximate yield

$1,000, which, of course, is also the amount of principal to be paid at maturity. to maturity The bonds are currently selling for $850. They have 10 years remaining to maturity. The annual interest payment is 8 percent ($80).

Compute the approximate yield to maturity, using Formula 10-2.

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Foundations Of Financial Management

ISBN: 9780073295817

12th Edition

Authors: Stanley B Block, Geoffrey A Hirt

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