Question
A $1,000 par value bond sells for $863.05. It will mature in 10 years and has a 5 percent annual coupon rate paying coupon
A $1,000 par value bond sells for $863.05. It will mature in 10 years and has a 5 percent annual coupon rate paying coupon semi-annually. What is the bond's yield to maturity (YTM) on a per annum basis? If the 'YTM remains unchanged, what would be the price of the bond 3 years from now?
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Auditing a business risk appraoch
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
6th Edition
978-0324375589
