Question
The market price is $800 for a 10-year bond ($1000 par value) that pays 12 percent annual interest, but makes interest payments on a semiannual
The market price is $800 for a 10-year bond ($1000 par value) that pays 12 percent annual interest, but makes interest payments on a semiannual basis (6 percent semiannually). What is the bond's yield to maturity?
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
