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Stein Co. issued 13-year bonds two years ago at a coupon rate of 8.8 percent. The bonds make semiannual payments. If these bonds currently sell
Stein Co. issued 13-year bonds two years ago at a coupon rate of 8.8 percent. The bonds make semiannual payments. If these bonds currently sell for 112 percent of par value, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Yield to maturity= ?
Need to show what numbers to plug in for example : N= 26 FV=1000 PV=1120 etc..
note: 3.12% is the incorrect answer!
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