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Required: a. What is the yield to maturity on a bond that you purchased for $1,159, assuming that the bond has 12 years to maturity,
Required: a. What is the yield to maturity on a bond that you purchased for $1,159, assuming that the bond has 12 years to maturity, a par value of $1,000, and a coupon rate of 5.45% ? The bond pays coupon interest semiannually. (Do not round intermediate calculations. Round your answer to 4 decimal places.) b. What is the effective annual yield on this bond? (Do not round intermediate calculations. Round your answer to 4 decimal places.)
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