Question
A 7% bond maturing in 8 years with semiannual coupons to yield 6% convertible semiannually is to be replaced by a 6.5% bond yielding the
A 7% bond maturing in 8 years with semiannual coupons to yield 6% convertible semiannually is to be replaced by a 6.5% bond yielding the same return. Assuming that both bonds have the same price, yield rate and face amount, in how many years should the new bond mature?
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Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
12th edition
1259720683, 978-1259720680
