Question
A 9% semiannual coupon bond matures in 4 years. The bond has a face value of $1,000 and a current yield of 8.8995%. What is
A 9% semiannual coupon bond matures in 4 years. The bond has a face value of $1,000 and a current yield of 8.8995%.
What is the bond's price? Do not round intermediate calculations. Round your answer to the nearest cent.
=
What is the bond's YTM? (Hint: Refer to Footnote 6 for the definition of the current yield and to Table 7.1) Do not round intermediate calculations. Round your answers to two decimal places.
%?
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Financial Markets And Institutions
Authors: Jeff Madura
6th Edition
0324162618, 978-0324162615
