Question
YIELD TO MATURITY A firm's bonds have a maturity of 12 years with a $1,000 face value, have an 9% semiannual coupon, are callable in
YIELD TO MATURITY A firm's bonds have a maturity of 12 years with a $1,000 face value, have an 9% semiannual coupon, are callable in 5 years at $1,150, and currently sell at a price of $1,200. What are their nominal yield to maturity? Round to TWO decimal places.
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ISE Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders Professor, Marcia Millon Cornett, Otgo Erhemjamts
10th International Edition
1260571475, 9781260571479
