Question
The market price is $1,075 for a 19-year bond ($1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual
The market price is $1,075 for a 19-year bond ($1,000 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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International Financial Management
Authors: Cheol Eun, Bruce Resnick
7th Edition
0077861604, 9780077861605
