Question
A company issues aten-year bond at par with a coupon rate of 7% paidsemi-annually. The YTM at the beginning of the third year of the
A company issues aten-year bond at par with a coupon rate of 7% paidsemi-annually. The YTM at the beginning of the third year of the bond(8 years left tomaturity) is 9.1%. What was the percentage change in the price of the bond over the past twoyears?
A.
14.1%
B.
9.4%
C.
16.45%
D.
11.75%
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Mechanics of Materials
Authors: Russell C. Hibbeler
10th edition
134319656, 978-0134319650
