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ABC Company issues a 3-year bond with a $1,000 Face Value and a 5% Coupon Rate, with coupons paid once a year at the end
ABC Company issues a 3-year bond with a $1,000 Face Value and a 5% Coupon Rate, with coupons paid once a year at the end of every year. It is now the beginning of its second year and the first coupon has already been paid. Banks are now giving 4% interest for deposits. The Bond's Market Value is $913. What is the bond's yield to maturity? please answer in the format 3.21%, with this entered as 3.21 (not 0.03) #,##0.00 Answer
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