Question
A callable bond pays annual interest of $60, has a par value of $1,000, matures in 20 years but is callable in 10 years at
A callable bond pays annual interest of $60, has a par value of $1,000, matures in 20 years but is callable in 10 years at a price of $1,100, and has a value today of $1055.84. What is the yield to call on this bond?
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Financial Management
Authors: Geoffrey Knott
4th Edition
1403903824, 9781403903822
