Question
The market price is $700 for a 10-year bond ($1,000 par value) that pays percent annual interest, but makes interest payments on a semiannual basis
The market price is $700 for a 10-year bond ($1,000 par value) that pays percent annual interest, but makes interest payments on a semiannual basis ( 4 percent semiannually). What is the bond's yield to maturity?
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Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
