Question
A firms bonds have a maturity of 18 years with a $1,000 face value, a 13 percent semiannual coupon, are callable in 4 years at
A firms bonds have a maturity of 18 years with a $1,000 face value, a 13 percent semiannual coupon, are callable in 4 years at $1,055, and currently sell at a price of $1,156. What is their yield to maturity (YTM)?
| a. | 10.99% | |
| b. | 8.33% | |
| c. | 11.08% | |
| d. | 13.00% | |
| e. | 9.40% |
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Physics
Authors: James S. Walker
5th edition
978-0133498493, 9780321909107, 133498492, 0321909100, 978-0321976444
