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PRICE AND YIELD An 8% semiannual coupon bond matures in 5 years. The bond has a face value of $1,000 and a current yield of
PRICE AND YIELD An 8% semiannual coupon bond matures in 5 years. The bond has a face value of $1,000 and a current yield of 8.4102%. What is the bond's price? Do not round intermediate calculations. Round your answer to the nearest cent. 951.23 What is the bond's YTM? (Hint: Refer to Footnote 7 for the definition of the current yield and to Table 7.1.) Do not round intermediate calculations. Round your answers to two decimal places. 10.26 % BOND RETURNS Last year Janet purchased a $1,000 face value corporate bond with an 10% annual coupon rate and a 15-year maturity. At the time of the purchase, it had an expected yield to maturity of 9.21%. If Janet sold the bond today for $979.81, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places. %
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