Question
The market price is $725 for a 10 year bond ($1,000 PAR Value) that pays 12% annual interest, but makes interest payments on a semi-annual
The market price is $725 for a 10 year bond ($1,000 PAR Value) that pays 12% annual interest, but makes interest payments on a semi-annual basis (6% semi-annually). What is the bond's yield to maturity?
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Real Estate Finance
Authors: John P. Wiedemer, Keith J. Baker
9th edition
324181426, 324181425, 978-0324181425
