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A 5-year bond pays 7 interest on a $1000 face value annually. If it currently sells for $1,055, what is its approximate yield to maturity?
| A 5-year bond pays 7 interest on a $1000 face value annually. If it currently sells for $1,055, what is its approximate yield to maturity? (Do not round intermediate calculations.) |
5.21
5.71
6.71
7.21
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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
