=+Problem 5.4 Some years ago, a company issued a 20-year bond with face value of 100 and
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=+Problem 5.4 Some years ago, a company issued a 20-year bond with face value of
£100 and coupon rate of 5 per cent, paid annually.
(a) The bond now has 3 years to maturity, the next interest payment is due in one year, and its current market price is £105. What is the yield to maturity on the bond?
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Related Book For 
Corporate Finance For Business The Essential Concepts
ISBN: 9783030924188
2nd Edition
Authors: Ronny Manos, Keith Parker, D. R. Myddelton
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