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The Johnson National Bank has purchased a bond that has a coupon rate of 5.5% (annual payments) and a face value of $1000. It has
The Johnson National Bank has purchased a bond that has a coupon rate of 5.5% (annual payments) and a face value of $1000. It has 4 years to maturity and is selling in the market for $949.19. The bond makes annual coupon payments. What is the yield to maturity on this bond? A. None of the other responses are correct. B. 5.5% C. 7.5% D. 7.0% E. 8.0%
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Shape Up Your Finances The Personal Finances Handbook
Authors: Ian Birt
1st Edition
0734608268, 978-0734608260
