Question
Suppose a bond has the following characteristics: 1. Coupon rate of 2.3% APR 2. Coupons paid out semi-quarterly 3. Matures 30 years away from today
Suppose a bond has the following characteristics:
1. Coupon rate of 2.3% APR
2. Coupons paid out semi-quarterly
3. Matures 30 years away from today
4. Face value = $1,000
5. Current price = $975.00
What is the annual yield to maturity?
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International Financial Management
Authors: Jeff Madura
3rd Edition
0314862722, 978-0314862723
