Question
The market price is $1050 for a 12-year bond ($1000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual
The market price is $1050 for a 12-year bond ($1000 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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Fundamentals Of Corporate Finance
Authors: Richard A. Brealey, Marcus, Alan J, Myers, Stewart C.
2nd Edition
0070074860, 9780070074866
