A $1000 par value bond has a coupon rate of 7.8%, pays interest semi-annually, matures in...
A $1000 par value bond has a coupon rate of 7.8%, pays interest semi-annually, matures in 26 years, and is priced at a 58.28 discount from par value. What is the annual yield to maturity of this bond? (Answer to the nearest one hundedth of a percent, i.e., 1.23 but do not include the % sign).
Homework Answers
![COUPON RATE 7.80% YEARS TO MATURITY 26 NPER 52 (years to maturity x 2) PMT 39 (face value x coupon rate)/2 FACE VALUE $1,000.00 PRICE PV $941.72 RATE 4.18% rate(nper,pmt,-pv,fv) rate(52,39,-941.72,1000) YIELD TO MATURITY :RATE X 2 8.35% [ pretax cost of debt ] [ 4.18%*2)](http://img.homeworklib.com/questions/865df520-2d07-11eb-9cc1-6dfa62bca37a.png?x-oss-process=image/resize,w_560)
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A $1000 par value bond has a coupon rate of 7.8%, pays interest
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