Question
ABC Inc. recently issued $1,000 par bonds at a 3.55% coupon rate. If the bonds have 12 years to maturity and current price of $850,
ABC Inc. recently issued $1,000 par bonds at a 3.55% coupon rate. If the bonds have 12 years to maturity and current price of $850, what is the yield to maturity? Assume semi-annual compounding. Note: Convert your answer to percentage and round off to two decimal points. Do not enter % in the answer box
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
8th Edition
0324065914, 9780324065916
