Question
Five years ago, Rock Steady Corp issued a semiannual coupon bond with seven years until maturity. This bond was originally issued at par with a
Five years ago, Rock Steady Corp issued a semiannual coupon bond with seven years until maturity. This bond was originally issued at par with a $1,000 face value.
The coupon rate on the bond is 8%. Today, the yield-to-maturity (YTM) is 10%.
What was yield to maturity of this bond when it was issued?
PLEASE give step by step solutions!
| 8% | ||
| 9% | ||
| 8.5% | ||
| 7.5% |
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Innovation And Technology
Authors: Nikos Vernardakis
1st Edition
0415676800, 978-0415676809
