Question: Billy's boss asks him to evaluate a $1000 face value bond with an 9% coupon, paid annually, that matures in 5-years and is available for

Billy's boss asks him to evaluate a $1000 face value bond

Billy's boss asks him to evaluate a $1000 face value bond with an 9% coupon, paid annually, that matures in 5-years and is available for purchase at a price of $947.37. Billy tells his boss that the Current Yield of the bond is 9.50%. Is Billy's statement true or false? O True O False

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