Question
Eleven years ago Bob's Burgers issued $1,000 par bonds with 15 years to maturity and a 4% semi-annual coupon at par. Today the bonds sell
Eleven years ago Bob's Burgers issued $1,000 par bonds with 15 years to maturity and a 4% semi-annual coupon at par. Today the bonds sell for $1,080. What is the current yield to maturity of the bonds?
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
