Question
The market price is $1,200 for a 12-year bond ($1,000 parvalue) that pays 11 percent annualinterest, but makes interest payments on a semiannual basis (5.5
The market price is $1,200 for a 12-year bond ($1,000 parvalue) that pays 11 percent annualinterest, but makes interest payments on a semiannual basis (5.5 percentsemiannually). What is thebond's yield tomaturity?
Thebond's yield to maturity is __%. (Round to two decimalplaces.)
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
