Fundamentals of Financial Manageme...
Solutions
Fundamentals of Financial Manageme...
A bond’s expected return is sometimes estimated by its YTM and sometimes by its YTC. Under what conditions would the YTM provide a better estimate, and when would the YTC be better?
To identify: The conditions in which YTM provides a better estimate and a situation when YTC would be better.
Introduction:
Yield to Maturity (YTM): It refers to the rate of interest received till the maturity of the bond by the bond holder.
Yield to Call (YTC): It refers to the rate of interest received till the bonds are being called, but before maturity of the bond.
- The expected return of the bond is estimated either by its YTM or YTC it depends upon the values of current interest rate and coupon rate...
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