45. What is the yield to maturity of a TVA bond that has a 9 1/2 percent coupon, pays interest semiannually, has 12 years to maturity, and sells for $871.50? a. 11.3% b. 11.5% c. 11.8% d. 12.1%

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
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ISBN:9781337902571
Author:Eugene F. Brigham, Joel F. Houston
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Chapter7: Bonds And Their Valuation
Section: Chapter Questions
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45. What is the yield to maturity of a TVA bond that has a 9 1/2 percent coupon, pays interest semiannually, has 12 years
to maturity, and sells for $871.50?
I
a. 11.3%
b. 11.5%
c. 11.8%
d. 12.1%
Transcribed Image Text:45. What is the yield to maturity of a TVA bond that has a 9 1/2 percent coupon, pays interest semiannually, has 12 years to maturity, and sells for $871.50? I a. 11.3% b. 11.5% c. 11.8% d. 12.1%
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