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Pitney Bowes Inc issues a 11 percent semi-annual coupon bond with 17 years maturity and $1,000 face (par) value. If the current market price
Pitney Bowes Inc issues a 11 percent semi-annual coupon bond with 17 years maturity and $1,000 face (par) value. If the current market price of this bond is $1286, find its yield to maturity.
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Step: 1
To calculate the yield to maturity YTM of a bond we can use the following formula te...
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Foundations Of Finance
Authors: Arthur J. Keown, John D. Martin, J. William Petty
9th Global Edition
1292155132, 9781292155135
