Question
The market price is $1 comma 175 for a 19-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on
The market price is $1 comma 175 for a 19-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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Foundations Of Financial Markets And Institutions
Authors: Frank J Fabozzi, Franco G Modigliani, Frank J Jones
4th Edition
0136135315, 978-0136135319
