Garvin Enterprises’ bonds currently sell for $1,075. They have a 6-year maturity, an annual coupon of $95, and a par val...
Garvin Enterprises’ bonds currently sell for $1,075. They have a 6-year maturity, an annual coupon of $95, and a par value of $1,000. What is their current yield? Enter your answer rounded to two decimal places. Do not enter % in the answer box. For example, if your answer is 0.12345 or 12.345% then enter as 12.35 in the answer box.
Homework Answers
Bond price = $1,075
Annual coupon = $95 at par value 1000
Current yield = coupon payment / bond price
= 95 / 1075
= 0.0883
So, the current yield will be 8.83%
Answer : 8.83
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Garvin Enterprises’ bonds currently sell for $1,075. They have a 6-year maturity, an annual coupon of $95, and a par val...
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