New Markets has $1,000 face value bonds outstanding that pay interest semiannually, mature in 14.5 years, and have a 4.5 percent coupon. The current price is quoted at 97.6. What is the yield to maturity?
A. 5.32 percent
B. 4.73 percent
C. 4.92 percent
D. 5.13 percent
E. 5.27 percent
1 | Face value (FV) | $ 1,000.00 |
2 | Coupon rate | 4.50% |
3 | Number of compounding periods per year | 2 |
1*2/3 | Interest per period (PMT) | $ 22.50 |
Bond price (PV) | $ (976.00) | |
4 | Number of years to maturity | 14.5 |
5 = 4*3 | Number of compounding periods till maturity (NPER) | 29 |
Bond expected rate of return | RATE(NPER,PMT,PV,FV)*2 | |
Bond expected rate of return | 4.73% |
New Markets has $1,000 face value bonds outstanding that pay interest semiannually, mature in 14.5 years,...
New Markets has $1,000 face value bonds outstanding that pay interest semiannually, mature in 14.5 years, and have a 4.5 percent coupon. The current price is quoted at 97.6% of par. What is the yield to maturity?
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