Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The market price of a semi-annual pay bond is $965.88. It has 18.00 years to maturity and a coupon rate of 7.00%. Par value is
The market price of a semi-annual pay bond is $965.88. It has 18.00 years to maturity and a coupon rate of 7.00%. Par value is $1,000. What is the effective annual yield?
The answer is 7.4796% I got 7.3447%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The New Market Wizards Conversations With Americas Top Traders
Authors: Jack D. Schwager
1st Edition
0887306675, 978-0887306679
