Question
The market price is $700 for a 17-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual
The market price is $700 for a 17-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?
The bond's yield to maturity is %
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Public Finance In Canada
Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon
5th Canadian Edition
1259030776, 978-1259030772
