Question
A $1,000 par value bond sells for $1,216. It matures in 25 years, has a 14 percent coupon, pays interest semiannually, and can be called
A $1,000 par value bond sells for $1,216. It matures in 25 years, has a 14 percent coupon, pays interest semiannually, and can be called in 5 years at a price of $1,100. The bond's yield to maturity is: (Round the answer to two decimal places.)
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Small Business Management Launching and Growing New Ventures
Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy
6th Canadian edition
176532218, 978-0176532215
