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River Tours has 5.8 percent coupon bonds that pay interest semiannually. The face value of each bond is $1,000, and the current market price is

River Tours has 5.8 percent coupon bonds that pay interest semiannually. The face value of each bond is $1,000, and the current market price is $1,003.54. If the yield to maturity is 5.68 percent, how many years is it until these bonds mature?

Multiple Choice

  • 6.55 years

  • 5.06 years

  • 3.49 years

  • 3.27 years

  • 6.43 years

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