Question
The market price is $1 200 for a 9-year bond ($1 000 par value) that pays 9 percent annual interest, but makes interest payments on
The market price is $1 200 for a 9-year bond ($1 000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis (4.5 percent semiannually). What is the bond's yield to maturity?
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Advanced Modelling In Mathematical Finance
Authors: Jan Kallsen, Antonis Papapantoleon
1st Edition
3319458736, 978-3319458731
