Question
A law firm raises capital by selling $15,000 worth of debt with flotation costs equal to 1% of its par value. If the debt matures
A law firm raises capital by selling $15,000 worth of debt with flotation costs equal to 1% of its par value. If the debt matures in 10 years and has an annual coupon interest rate of 6%, what is thebond's YTM?
Thebond's YTM is _____%?
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College Mathematics For Business Economics, Life Sciences, And Social Sciences
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
14th Edition
0134674146, 978-0134674148
