The 6 percent semiannual coupon bonds of IPO, Inc., are selling for $1,087. The bonds have...
The 6 percent semiannual coupon bonds of IPO, Inc., are selling for $1,087. The bonds have a face value of $1,000 and mature in 11 years. What is the yield to maturity? 5.42 percent 5.70 percent 4.96 percent 4.67 percent 3.68 percent
Homework Answers
Using Calculator,
PMT = .06/2*1000 = $30
No. of months = 22
PV = -1087
FV = 1000
YTM = 2.48%*2 = 4.96%
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