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Problem 14-12 A 20-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 6%. Find the bond equivalent
Problem 14-12 A 20-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 6%. 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.) X Answer is complete but not entirely correct. Bond Prices Bond Equivalent Annual Yield to Maturity 6.75 % Effective Annual Yield to Maturity a. $ 930 13.96 % b. $ 1,000 6.00 % 12.48 X % C. $ 1,030 5.70 % 11.72 X %
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