Question
Three years ago you purchased a $1,000 par bond with a 5% semi-annual coupon and 9 years to maturity at par. Today, you sold the
Three years ago you purchased a $1,000 par bond with a 5% semi-annual coupon and 9 years to maturity at par. Today, you sold the bond at a price of $915. What was the yield to maturity when you sold the bond?
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International Finance Discussion Papers The Credit Market Consequences Of Job Displacement
Authors: United States Federal Reserve Board, Benjamin J. Keys
1st Edition
1288704453, 9781288704453
