A bond with a par value of $1,000 and an annual coupon has a yield to maturity of 5.60% and a current price of $975. If the bond has 18 years to maturity, what is its current yield?
A bond with a par value of $1,000 (FV) and an annual coupon has a yield to maturity of 5.60% (RATE) and a current price of $975 (PV). If the bond has 18 years (NPER) to maturity, what is its current yield?
Using the EXCEL Formula for finding the annual Payments (PMT)
PMT(RATE,NPER,-PV,FV,0) = PMT(5.60%,18,-975,1000,0) = $ 53.76 per year;
Current Yield = $ 53.76 / $1000 = 5.38%
Answer: 5.38%
A bond with a par value of $1,000 and an annual coupon has a yield to...
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?
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