Question
A 6.35% coupon bond with 19 years left to maturity can be called in 11 years. The call premium is 1 year of coupon payments,
A 6.35% coupon bond with 19 years left to maturity can be called in 11 years. The call premium is 1 year of coupon payments, it is currently offered for sale at $964,000. What is the yield to maturity? (Assume interest payments are semiannual)
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Risk Management And Financial Institution
Authors: John C. Hull
2nd Edition
0136102956, 9780136102953
