Question
Nathan owns $1000 par value of Caterpillar bonds.The bond has a 4% coupon rate, pays interest semi-annually, has 5 years to maturity and is currently
Nathan owns $1000 par value of Caterpillar bonds.The bond has a 4% coupon rate, pays interest semi-annually, has 5 years to maturity and is currently priced at $980. What is the yield to maturity for this bond?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
