Question: Type or paste question here 5. TERM: You wish to purchase a N-year bond that has a maturity value of $1000 and makes annual coupon

Type or paste question here Type or paste question here 5. TERM: You wish to purchase a

5. TERM: You wish to purchase a N-year bond that has a maturity value of $1000 and makes annual coupon payments of $80 but paid semi-annually. If you require a 10% yield to maturity on this investment, if the maximum price you would pay for the bond is 1,100 what is the value of N (rounded)

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