Question
Bourdon Softwarehas 11.5 percent coupon bonds on the market with 19 years to maturity. The bonds make semiannual payments and currently sell for 105 percent
Bourdon Softwarehas 11.5 percent coupon bonds on the market with 19 years to maturity. The bonds make semiannual payments and currently sell for 105 percent of par.
What is the effective annual yield?
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Roberts, Hamdi Driss
8th Canadian Edition
01259270114, 9781259270116
