Intermediate. A bond has a coupon rate of 6 per cent and will repay its nominal value
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Intermediate. A bond has a coupon rate of 6 per cent and will repay its nominal value of $100 when it matures after four years.
The bond will be purchased today for $103 ex-interest and held until maturity.
Required: f Calculate, to 0.01 per cent, the yield to maturity for the bond based on today’s purchase price. (5 marks)
CIMA P1 Performance Operations
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