Question
(Yield to maturity)The market price is $1,150 for a 10-year bond ($1,000 par value) that pays 12 percent annual interest, but makes interest payments on
(Yield to maturity)The market price is $1,150 for a 10-year bond ($1,000 par value) that pays 12 percent annual interest, but makes interest payments on a semiannual basis ( 6 percent semiannually). What is the bond's yield to maturity?
The bond's yield to maturity is %
enter your response here%. (Round to two decimal places.)
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Money Banking And Financial Markets
Authors: Stephen Cecchetti
2nd Edition
0073523097, 9780073523095
