Question
You are considering the purchase of a Coupon Bond with a Face Value of $1,000, which matures in sixteen years, and pays 4.85% (annual) coupons.
You are considering the purchase of a Coupon Bond with a Face Value of $1,000, which matures in sixteen years, and pays 4.85% (annual) coupons. If the bond is trading in the market at $959.48, what is the Yield-to-Maturity (YTM) on the investment?
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Personal Finance For Canadians
Authors: Elliot Currie, Thomas Chambers, Kathleen Brown
9th Edition
0132286750, 978-0132286756
