Question
Messenger, Inc. bonds have a 6% coupon rate with semiannual coupon payments and a $1,000 par value. The bonds have 11 years until maturity, and
Messenger, Inc. bonds have a 6% coupon rate with semiannual coupon payments and a $1,000 par value. The bonds have 11 years until maturity, and sell for $925. What is the CURRENT YIELD for Messinger's bonds?
a. 2.16%
b. 3.24% c. 5.52% d. 6.49%
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
