vork #$4$D $($YTM annually, semi$-$annually$)$

Show Timer

Page $2$ of $4$

This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. Do not use algebraic formulas to calculate these problems.

Question $2(1$ point$)$

Blue Crab, Inc. plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be $15-$year to maturity, carry a $12\mathrm{.}11$ percent annual coupon, and have a $$1,000$ par value. Blue Crab, Inc. has determined that these bonds would sell for $$1,185$ each. What is the yield to maturity for these bonds?

Round the answers to two decimal places in percentage form. $($Write the percentage sign in the "units" box$).$

You should use Excel or financial calculator: