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Adams Food Service has issued 9 1/8 percent bonds that mature on July 15, Year 33. The bonds are callable at $1,023.03 on July 15,
Adams Food Service has issued 9 1/8 percent bonds that mature on July 15, Year 33. The bonds are callable at $1,023.03 on July 15, Year 5. Assume that interest is paid and compounded annually. Determine the yield-to-maturity if an investor purchased a $1,000 denomination bond for $850 on July 15, Year 1. Round your answer to two decimal places. %
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