
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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The market price is $800 for a 17-year bond ( $1,000 par value ) that pays 9 percent annual interest, but makes interest, but makes interest payments on a semiannual basis ( 4.5 percent semiannually ). What is the bond’s yield to maturity?
The bond’s yield to maturity is
Round to two decimal places
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