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River Corp. has 8 percent coupon bonds making annual payments with a YTM of 7.2 percent. The current yeild on these bonds is 7.55 percent.
River Corp. has 8 percent coupon bonds making annual payments with a YTM of 7.2 percent. The current yeild on these bonds is 7.55 percent. How many years do these bonds have left until they mature? I am having trouble solving for T, I need to solve for it by putting it into a price for bond equation and take the natural log of each side to get T. Can you show me how to do so? I have the market price for the bond already = 1059.6. Thank you!
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