A Macrohard Corp. bond carries an 8% coupon, paid semiannually. The par value is $1,000 and...
A Macrohard Corp. bond carries an 8% coupon, paid semiannually. The par value is $1,000 and the bond matures in 6 years. If the bond currently sells for $911.37, what is the yield to maturity? What is the effective annual yield?
Please show me how to solve on a calculator. Thank you
Homework Answers
Calculating Yield to Maturity,
Using TVM Calculation,
I = [PV = -911.37, FV = 1,000, PMT = 40, N = 12]
I = 10.00%
EAR = (1 + 0.10/2)2 - 1 = 10.25%
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