Question
Preston Corporation has a bond outstanding with an annual interest payment of $90, a market price of $1,280, and a maturity date in 10 years.
Preston Corporation has a bond outstanding with an annual interest payment of $90, a market price of $1,280, and a maturity date in 10 years. Assume the par value of the bond is $1,000. Find the following:
Coupon Rate: 9.00%
Current Yield: 7.03%
Approximat yield to maturity: ?
Exact yield to maturity: ?
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Financial Freedom
Authors: Timothy Turner
1st Edition
1801573573, 978-1801573573
