A bond with a par value of $1,000 and a coupon rate of 7.25% has a...
A bond with a par value of $1,000 and a coupon rate of 7.25% has a current market value of $1,030. What is its yield to maturity? The bond has 8 years to maturity.
Group of answer choices
6.75%
7.24%
6.19%
7.13%
6.85%
Homework Answers
Par Value =1000
Coupon =7.25%*1000 =72.50
Number of years of Maturity =8
Current Value =1030
YTM using financial Calculator
N=8;PMT=72.50;PV=-1030;FV=1000;CPT I/Y =6.75% (Option
a is correct option)
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