Price = 86.725% of 1000 = 867.25
Coupon = 0.065 * 1000 = 65
Current yield = (Annual coupon / price) * 100
Current yield = (65 / 867.25) * 100
Current yield = 7.50%
Do-Well bonds have a face value of $1,000 and are currently quoted at 86.725. The bonds...
Do-Well bonds have a face value of $1,000 and are currently quoted at 867.25. The bonds have a semiannual coupon rate of 6.5 percent. What is the current yield (CY) on these bonds?
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