A 6.30 percent coupon bond with 16 years left to maturity is offered for sale at $977.12. What yield to maturity is the bond offering? (Assume interest payments are semiannual.) Note: Round your answer to 2 decimal places. Yield to maturity %

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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A 6.30 percent coupon bond with 16 years left to maturity is offered for sale at $977.12. What yield to maturity is the bond offering?
(Assume interest payments are semiannual.)
Note: Round your answer to 2 decimal places.
Yield to maturity
%
Transcribed Image Text:A 6.30 percent coupon bond with 16 years left to maturity is offered for sale at $977.12. What yield to maturity is the bond offering? (Assume interest payments are semiannual.) Note: Round your answer to 2 decimal places. Yield to maturity %
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