Question
A bond with 15 years to maturity, a face value of $1000, pays a coupon rate of 14% APR compounded semi-annually. If this bond is
A bond with 15 years to maturity, a face value of $1000, pays a coupon rate of 14% APR compounded semi-annually. If this bond is priced at $1,093.34. What is the yield-to-maturity stated as an APR with semi-annual compounding?
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Financial Management For Public Health And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
7th Edition
1071835335, 978-1071835333
