Question: Your answer: Question 3 (CHAPTER 7) A Corporation issued 16-year bonds. The coupon rate on these bonds is 9.6%. The bonds make semiannual coupon payments.

Your answer: Question 3 (CHAPTER 7) A Corporation issued 16-year bonds. The coupon rate on these bonds is 9.6%. The bonds make semiannual coupon payments. Today you can buy each of these bonds for $850. Calculate the yield to maturity. In this problem, the yield to maturity is solved the easiest using the financial calculator. I will need to use for "N" (number of coupons), ...and for "PMT" (coupon). In this problem, my numerical answer for the yield to maturity is %. (Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 1.23.) This bond is known as: (a) bond that sells at par (b) discount bond (c) premium bond

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