Question
A bond has a face value of $1,000, a coupon of 6% paid annually, a maturity of 32 years, and a yield to maturity of
| A bond has a face value of $1,000, a coupon of 6% paid annually, a maturity of 32 years, and a yield to maturity of 9%. What rate of return will be earned by an investor who purchases the bond for $687.81 and holds it for 1 year if the bonds yield to maturity at the end of the year is 11%? |
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American Public School Finance
Authors: William Owings, Leslie Kaplan
2nd Edition
1111838046, 978-1111838041
