Calculating Yields. Assume you purchased a high-yield corporate bond with a face value of $1,000 at its
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Calculating Yields. Assume you purchased a high-yield corporate bond with a face value of $1,000 at its current market price of $850 on January 2, 2010. It pays 5 percent interest and will mature on December 31, 2019.
a. Determine the current yield on your bond investment at the time of purchase.
b. Determine the yield to maturity on your bond investment at the time of purchase.
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