Question
New Homes has a bond issue with a coupon rate of 5.5 percent that matures in 8.5 years. The bonds have a par value of
New Homes has a bond issue with a coupon rate of 5.5 percent that matures in 8.5 years. The bonds have a par value of $1,000 and a market price of $972. Interest is paid semiannually. What is the yield to maturity? (Please show work)
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Finance And Sustainable Development
Authors: Magdalena Ziolo
1st Edition
0367819767, 978-0367819767
