Question
FAMA Enterprises' bonds currently sell for $1,100. They have a 12-year maturity, an annual coupon rate of 15%, and a par value of $1,000. What
FAMA Enterprises' bonds currently sell for $1,100. They have a 12-year maturity, an annual coupon rate of 15%, and a par value of $1,000. What is their yield to maturity (YTM) of the bond?
| 14.40% |
| 12.48% |
| 13.29% |
| 10.84% |
| 14.18% |
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
2nd Edition
0324289235, 9780324289237
