Question
What is the yield to maturity of a 16-year bond that pays a coupon rate of 10.57 percent per year, has a $1,000 par value,
What is the yield to maturity of a 16-year bond that pays a coupon rate of 10.57 percent per year, has a $1,000 par value, and is currently priced at $1,193.96? Assume annual coupon payments.
Round the answers to two decimal places in percentage form.
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
13th edition
134417216, 978-0134417509, 013441750X, 978-0134417219
