Question
A bond with a par value of $1,000 and a semiannual coupon has a yield to maturity of 6.60% and a current price of $1,035.
A bond with a par value of $1,000 and a semiannual coupon has a yield to maturity of 6.60% and a current price of $1,035. If the bond has 8 years to maturity, what is its current yield?
Step by Step Solution
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The current yield of a bond is calculated by dividing the annual coupon payment by ...
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
