Question
The market price is $1075 for a 12-year bond ($1000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual
The market price is $1075 for a 12-year bond ($1000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual basis (5.5 percent semiannually). What is the bond's yield to maturity?
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Finance For Real Estate Development
Authors: Charles Long
1st Edition
0874204305, 978-0874204308
