Question
Noor Industries has issued a bond which has a $1,000 par value and a 15 percent annual coupon interest rate. The bond will mature in
Noor Industries has issued a bond which has a $1,000 par value and a 15 percent annual coupon interest rate. The bond will mature in ten years and currently sells for $1,250. Use the approximation formula to calculate the yield to maturity (YTM) of this bond.*
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Fixed Income Analysis
Authors: Barbara S. Petitt
5th Edition
1119850541, 978-1119850540
