Footsteps Co. has a bond outstanding with a coupon rate of 5.4 percent and annual payments. The bond currently sells for $1,007.49, matures in 18 years, and has a par value of $1,000. What is the YTM of the bond?
use financial calculator as below
FV=1000
N=18
PMT=1000*5.4%=54
PV=-1007.49
Click CPT
Click I/Y=5.33% IS YTM
the above is answer..
Footsteps Co. has a bond outstanding with a coupon rate of 5.4 percent and annual payments....
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