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Suppose a firm has the following bond information: Years to maturity: 20 Coupon Rate: 5%,semi-annual payments Par Value:$1,000 Price: 103.75% of par value Calculate the
Suppose a firm has the following bond information:
Years to maturity: 20
Coupon Rate: 5%,semi-annual payments
Par Value:$1,000
Price: 103.75% of par value
Calculate the yield-to-maturity (YTM) on the bond. (Enter percentages as decimals and round to 4 decimals).
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