Question
Adams Enterprises' non-callable bonds currently sell for $1,220. They have a 15-year maturity, an annual coupon of $85, and a par value of $1000. What
Adams Enterprises' non-callable bonds currently sell for $1,220. They have a 15-year maturity, an annual coupon of $85, and a par value of $1000. What is their yield to maturity (I/YR)?
A. 6.87%
B. 5.47%
C. 7.71%
D. 8.56%
E. 6.20%
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Fundamentals Of Investments Valuation And Management
Authors: Bradford D Jordan, Thomas W. Miller Jr., Steven D. Dolvin
6th Edition
0073530719, 9780073530710
