Question
(Yield to maturity)The market price is $900 for a 20-year bond ($1000 par value) that pays 8 percent annual interest, but makes interest payments on
(Yield to maturity)The market price is $900 for a 20-year bond ($1000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual basis (4 percent semiannually). What is the bond's yield to maturity?
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Personal Finance
Authors: Jane King, Mary Carey
2nd Edition
0198748779, 9780198748779
