Question: A 1,000 face value bond with 20 years left until maturity. If the coupon rate is 10%, paid semi-annually, and the current yield is 8.85%,
A 1,000 face value bond with 20 years left until maturity. If the coupon rate is 10%, paid semi-annually, and the current yield is 8.85%, what should be the yield to maturity on this bond?
Please show how to solve using a financial calculator. So far i've gotten
p/y=2
FV=1,000
n=20*2
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