Question 19 The coupon rate on a bond is 3.22%. The par value of the bond...
Question 19
The coupon rate on a bond is 3.22%. The par value of the bond is $1,000. The bond has a maturity of 4 years. If today's price of the bond is $1,029.61, what is the current yield?
Homework Answers
Current Yield = Annual Coupon Payment / Current Bond Price
= [3.22% * $1,000] / $1,029.61
= $32.20 / $1,029.61
= 0.0313, or 3.13%
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