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You just purchased a bond that matures in 4 years. The bond has a face value of $1,000 and a 9% annual coupon. The
You just purchased a bond that matures in 4 years. The bond has a face value of $1,000 and a 9% annual coupon. The bond has a current yield of 7.63%. What is the bond's yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.
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Step: 1
To calculate the yield to maturity YTM of a bond we need to find the discount rate that equates the ...
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Step: 3
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
10th edition
978-1337902571, 1337902578, 978-1337911054, 1337911054, 978-0324272055
