Question
Problem 18-13 A municipal bond has 17 years until maturity and sells for $5,365. It has a coupon rate of 4.60 percent and it can
Problem 18-13
| A municipal bond has 17 years until maturity and sells for $5,365. It has a coupon rate of 4.60 percent and it can be called in 7 years. What is the yield to call if the call price is 105 percent of par?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.) |
| Yield to call | % |
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
