Problem 6-5 Bond Yields (LO1, 2) A bond with a face value of $1,000 has 16 years until maturity, has a coupon rate of 5.8%, and sells for $1,109. a. What is the yield to maturity if interest is paid once a year? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. Answer is complete but not entirely correct. Yield to maturity 2.4080 X %

A bond with a face value of $1,000 has 16 years until maturity, has a coupon rate of 5.8%, and sells for $1,109. a. What is the yield to maturity if interest is paid once a year? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places Answer is complete but not entirely correct