The market price is $925 for a 19-year bond (1,000 par value) that pays 8 percent annual

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The market price is $925 for a 19-year bond (1,000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual basis (4 percent semiannually). What is the bond's yield to maturity?

The bond's yield to maturity is ?%

(Round to two decimal places.)

Related Book For answer-question

Financial Management Principles and Applications

ISBN: 978-0133423822

12th edition

Authors: Sheridan Titman, Arthur Keown, John Martin

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Posted Date: May 10, 2022 08:25 AM

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The market price is $925 for a 19-year bond (1,000 par value) that pays 8 percent annual

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So Semiannual rate 441 and Yield to maturity 441 2 882 fx RATE1921000829251000 Func... View the full answer

Financial Management Principles and Applications

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