Question
Alien! A $1,000 face value bond matures in 10 years, pays interest semiannually, and has a 8.5 percent coupon. The bond currently sells for $1,025.
Alien!
A $1,000 face value bond matures in 10 years, pays interest semiannually, and has a 8.5 percent coupon. The bond currently sells for $1,025. What is the yield to maturity?
Can you explain it how you got the answer step by step. Please dont skip any steps. I really want to learn the material. If you can use a calculator that be great too. Thank you.
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Corporate Financial Management
Authors: Julian Ralph Franks, Harry H. Scholefield
2nd Edition
0566020548, 978-0566020544
