Question
The market price is $750 for a 16-year bond ($1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual
The market price is
$750
for a
16-year
bond
($1,000
par value) that pays
11
percent annual interest, but makes interest payments on a semiannual basis
(5.5
percent semiannually). What is the bond's yield to maturity?
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
538482109, 1133711774, 538482389, 9780538482103, 9781133711773, 978-0538482387
