Leechtown Co. has 4.3 percent coupon bonds on the market with 18 years left to maturity....
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Leechtown Co. has 4.3 percent coupon bonds on the market with 18 years left to maturity. The bonds make annual payments. If the bond currently sells for $870, what is its YTM? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) |
| Yield to maturity | % |
Homework Answers
Annual coupon=1000*4.3%=43
Hence approx YTM=[Annual coupon+(Face value-Present value)/time to maturity]/(Face value+Present value)/2
=[43+(1000-870)/18]/(1000+870)2
=5.45%(Approx).
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