Consider a coupon bond with a 1 000 face value and
Consider a coupon bond with a $1,000 face value and a coupon payment equal to 5 percent of the face value per year.
a. If there is one year to maturity, find the yield to maturity if the price of the bond is $990.
b. Explain why finding the yield to maturity is difficult if there are two years to maturity and you do not have a financial calculator.

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