Question
Boyes Industrial bonds pay coupons semiannually and have a maturity of 9 years with a $1,000 face value and a 10% coupon. Boyd's bonds are
Boyes Industrial bonds pay coupons semiannually and have a maturity of 9 years with a $1,000 face value and a 10% coupon. Boyd's bonds are callable in 4 years at face value. These bonds currently sell at a price of $1,125. What is their yield to maturity (YTM)?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
12th Edition
1439044473, 978-1439044476
