Question
The Seaside National Bank is thinking about purchasing a bond that has an 8 percent coupon rate with 15 years to maturity. This bond has
The Seaside National Bank is thinking about purchasing a bond that has an 8 percent coupon rate with 15 years to maturity. This bond has a face value of $1000 and is selling in the market for $1141. What is the yield to maturity on this bond?
A) 8 percent B) 15 percent C) 6.5 percent D) 8.5 percent E) None of the above
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Mathematics For Business
Authors: Stanley A Salzman, Charles D Miller, Gary Clendenen
8th Edition
0321357434, 9780321357434
