Question
A bond has eight years to maturity and a coupon rate of 6.5 percent. Coupon payments are made annually and the bond has a face
A bond has eight years to maturity and a coupon rate of 6.5 percent. Coupon payments are made annually and the bond has a face value of $1,000. This bond is currently selling in the market for $862. What is the yield-to-maturity on this bond?
The answer is: 9%, please show the work.
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Weathering The Storm A Quick Guide To Safeguarding Your Finances During Economic Recession
Authors: Liam Wilhelm
1st Edition
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