A 700 percent coupon bond with 26 years left to maturity can be called in seven years
A 700 percent coupon bond with 26 years left to maturity can be called in seven years. The cal premium is one year of coupon payments. It is offered for sale at $1065 35. What is the yield to call of the bond? Assume interest payments are semiannual) (Round your answer to 2 decimal places)
Homework Answers
Yield to call is calculated using the RATE function:-
=RATE(nper,pmt,pv,fv)
=RATE(7*2,7%/2*1000,-1065.35,1070)*2
=6.62%
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