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Bond Y matures in 18 years. Par is $1,000. They pay semi-annual payments. The coupon rate is 8% Bond Y sells for $1,242. They bonds
Bond Y matures in 18 years. Par is $1,000. They pay semi-annual payments. The coupon rate is 8% Bond Y sells for $1,242. They bonds can be called in 5 years with a $80 premium. Which one is an investor likely to receive?
a. YTM
b. YTC
c. Either
d. Neither
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American Public School Finance
Authors: William Owings, Leslie Kaplan
2nd Edition
1111838046, 978-1111838041
