Question
Harrimon Industries bonds have 6 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate
Harrimon Industries bonds have 6 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 8%. What is the yield to maturity at a current market price of $781? Round your answer to two decimal places. % $1,096? Round your answer to two decimal places. %
I used RATE formula but my answer was wrong
=-RATE(6,80,-781,1000)
=-RATE(6,80,-1096,1000)
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Fundamentals Of Futures And Options Markets
Authors: John C. Hull
5th Edition
0131445650, 9780131445659
