A bond with a par value of $1,000 and an annual coupon rate of 9.5% has...
A bond with a par value of $1,000 and an annual coupon rate of 9.5% has a yield to maturity of 6.4%. If the bond has 11 years to maturity, what is its current yield?
Homework Answers
Current price =PV(rate,nper,pmt,fv) =PV(6.4%,11,9.5%*1000,1000) =1239.57
Current yield =Annual coupon/current price =(9.5%*1000)/1239.57 =7.66%
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