Question
. Patsy Dougherty bought a $1,OOD-face-value bond with a 9% annual coupon and three years to maturity that makes its first interest payment one year
. Patsy Dougherty bought a $1,OOD-face-value bond with a 9% annual coupon and three years to maturity that makes its first interest payment one year from today. Patsy bough t the bond for $975.13. What is the bond's yield-to-maturity?
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Financial Management For Public Health And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
7th Edition
1071835335, 978-1071835333
