You have invested $50,000 in a bond that pays an annual coupon rate of 6%, with a
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You have invested $50,000 in a bond that pays an annual coupon rate of 6%, with a maturity of 10 years. If the bond currently sells at a discount of 10%, what is the yield to maturity (YTM) of the bond? Assume that coupons are paid annually and that the face value of the bond is $100,000.
Related Book For
Contemporary Financial Management
ISBN: 9780324289114
10th Edition
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
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