Question
An investor buys a 20-year bond with a $1,000 face value for $975. The bonds coupon rate is 6 percent and interest payments are made
An investor buys a 20-year bond with a $1,000 face value for $975. The bonds coupon rate is 6 percent and interest payments are made semi-annually. Using the YTM (yield to maturity) approximation formula, what is the bonds yield to maturity? YTM
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Fundamentals Of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
16th Edition
0357517571, 978-0357517574
