Question
You just purchased a bond that matures in 5 years. The bond has a face value of $1,000 and an 8% annual coupon. The bond
You just purchased a bond that matures in 5 years. The bond has a face value of $1,000 and an 8% annual coupon. The bond has a current yield of 8.21%. What is the bond's yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.
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A Study In Public Finance
Authors: A. C. Pigou
1st Edition
1443722766, 978-1443722766
