A $1,000 face value bond matures in 11 years, pays interest annually, and has a 6.25 percent coupon. The bond currently sells for $925. What is the yield to maturity? (Answer as a % accurate to 2 decimal places. Enter only a number with decimal points. Do not inlcude any dollar symbols or other punctuation.)
A $1,000 face value bond matures in 11 years, pays interest annually, and has a 6.25 percent coupon. The bond currently sells for $925. What is the yield to maturity? (Answer as a % accurate to 2 decimal places. Enter only a number with decimal points. Do not inlcude any dollar symbols or other punctuation.)
Chapter6: Fixed-income Securities: Characteristics And Valuation
Section: Chapter Questions
Problem 16P
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A $1,000 face
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