Question
A bond has a coupon of 12 percent, and is currently selling for $800, had an original maturity of 15 years is due to mature
A bond has a coupon of 12 percent, and is currently selling for $800, had an original maturity of 15 years is due to mature in 12 years. The return on the bond, viz. its yield to maturity (YTM) is:
a.21.76%
b.15.82%
c.15.13%
d.15.50%
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
