Question: Assume that everything stated in Problem 11 remains the same except that the bonds are not perpetual. Instead, they have a $1,000 par value and

Assume that everything stated in Problem 11 remains the same except that the bonds are not perpetual. Instead, they have a $1,000 par value and mature in 10 years. a. Determine the implied semiannual yield to maturity (YTM) on these bonds. (Tip: If all you have to work with are present value tables, you can still determine an approximation of the semiannual YTM by making use of a trial-and-error procedure coupled with interpolation. In fact, the answer to Problem 11, Part (a) rounded to the nearest percent gives you a good starting point for a trial-and-error approach.) b. Using your answer to Part (a), what is the (nominal annual) YTM on these bonds? the (effective annual) YTM on these bonds

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