Question
Ashburn Corp issued 25-year bonds two years ago at a coupon rate of 5.6%. The bonds make semiannual payments. If these bonds currently sell for
Ashburn Corp issued 25-year bonds two years ago at a coupon rate of 5.6%. The bonds make semiannual payments. If these bonds currently sell for 97% of par value, what is the YTM? Please show math too without excel.
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Investment Science
Authors: David G. Luenberger
1st International Edition
0195391063, 9780195391060
