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A $1,000 par value bond sells for $1,020. It matures in 5 years and has an 5% coupon, paid semiannually. What is the bonds yield
A $1,000 par value bond sells for $1,020. It matures in 5 years and has an 5% coupon, paid semiannually. What is the bonds yield to maturity (YTM)? ENTER YOUR ANSWER AS A PERCENTAGE WITH ONE DECIMAL PLACE (e.g., 12.1) AND NOT AS A DECIMAL (e.g., 0.121). ROUND TO THE NEAREST TENTH OF A PERCENT. DO NOT USE THE PERCENT SIGN (%) IN YOUR ANSWER.
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