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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Related Book For
Foundations Of Financial Management
ISBN: 9780073295817
12th Edition
Authors: Stanley B Block, Geoffrey A Hirt
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