Chapter14: Investing In Stocks And Bonds
Section: Chapter Questions
Problem 6DTM
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Question
Woolworth has 10 per cent coupon bonds making annual payments with a YTM of 6.5 per cent. The bond has a par value of $1000 and the current yield on these bonds is 8.42 per cent. How many years do these bonds have left until they mature? [Please enter the exact value, do not rounding up]
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