[Solved] Problem 7 - 4 Time to Maturity ( LG 7 - 1

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Problem 7 - 4 Time to Maturity ( LG 7 - 1 ) A bond issued by IBM on December 1 , 1 9 9

Problem

7 - 4

Time to Maturity

(

7 - 1)

A bond issued by IBM on December

1, 1996,

is scheduled to mature on December

1, 2096 .

If today is Decembpr

2, 2003,

what is this bond's time to maturity?

(

Use

365

days a year.

)

Time to maturity years

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