Question
Stone Corp. issued 20-year bonds two years ago at a coupon rate of 7.1 percent. The bonds make semi-annual payments. If these bonds currently sell
Stone Corp. issued 20-year bonds two years ago at a coupon rate of 7.1 percent. The bonds make semi-annual payments. If these bonds currently sell for 105% of par value, what is the YTM? Describe using the YIELD function in Microsoft Excel.
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Practical Financial Management
Authors: William R. Lasher
7th edition
128560721X, 9781133593669, 1133593682, 9781285607214, 978-1133593683
