Question
Bond Valuation with Annual Payments Jackson Corporation's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value,
Bond Valuation with Annual Payments
Jackson Corporation's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 6.5%. The bonds have a yield to maturity of 8%. What is the current market price of these bonds? Round your answer to the nearest cent.
Yield to Maturity for Annual Payments
Wilson Wonders' bonds have 10 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 7%. The bonds sell at a price of $985. What is their yield to maturity? Round your answer to two decimal places.
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