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Problem 14-12 A 15-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 12%. Find the bond equivalent
Problem 14-12 A 15-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 12%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Bond Prices Bond Equivalent Annual Yield to Maturity 12.45 % Effective Annual Yield to Maturity $ 970 12.83 % % . b c. $ 12.00 % 1,000 1,070 12.36 X % 11.34 X % $ 11.03 %
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