Question
Three years ago, the French Co. issued twenty-year bonds with a 9% coupon rate and semi-annual interest payments. Today these bonds are quoted at a
Three years ago, the French Co. issued twenty-year bonds with a 9% coupon rate and semi-annual interest payments. Today these bonds are quoted at a price of 105.75. What is the yield-to-maturity?
answer = 8.360%
How did they get this answer.. how would i plug this into my financial calculator?
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
12th Global Edition
1292268859, 978-1292268859
