The 11.7 percent, $1,000 face value bonds of Tim McKnight, Inc., are currently selling at $915.12. What

Question:

The 11.7 percent, $1,000 face value bonds of Tim McKnight, Inc., are currently selling at $915.12. What is the current yield?

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...