Question
The market price is $1,125 for a 13-year bond ($1, 000 par value) that pays 9 percent annual interest, but makes interest payments on a
The market price is $1,125 for a 13-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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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi, Francesco A. Fabozzi
10th Edition
026204627X, 978-0253337535
