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 12.5 percent.
Compute If the price of the bond is $2,060, what is the yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
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International Financial Management
Authors: Jeff Madura
7th Edition
0324071744, 978-0324071740
