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A bond has a $1,000 par value, 7 years to maturity, and a 9% annual coupon and sells for $1,095. What is its yield to
A bond has a $1,000 par value, 7 years to maturity, and a 9% annual coupon and sells for $1,095.
- What is its yield to maturity (YTM)? Round your answer to two decimal places.
- Assume that the yield to maturity remains constant for the next 3 years. What will the price be 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.
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The New Public Finance
Authors: Inge Kaul, Pedro Condeicao
1st Edition
0195179978, 978-0195179972
