Question
Stilley Resources bonds have 20 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate
Stilley Resources bonds have 20 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 13.5 percent.
If the price of the bond is $1,390, what is the yield to maturity?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
