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On January 1, 2005, a cooperation issues 15 year 8% semi annual coupon bond with a face value of 1,000 (Coupons are paid at the
On January 1, 2005, a cooperation issues 15 year 8% semi annual coupon bond with a face value of 1,000 (Coupons are paid at the end of June and end of December). The bond can be redeemed, at the option of the cooperation. 1. On any coupon date in 2016 or 2017 at par 2. On any coupon date in 2018 through end of 2019 for amount of 1,200 Find the minimum annual yield to maturity(nominal- compounded semi annually) if the bond is purchased for 1200
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