A bond that pays interest of 8% semiannually has a par value of $1,000, matures in 10 years, and is selling today at $865. The yield to maturity on this bond is

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
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A bond that pays interest of 8% semiannually has a par value of $1,000, matures in 10 years, and is
selling today at $865. The yield to maturity on this bond is
Transcribed Image Text:A bond that pays interest of 8% semiannually has a par value of $1,000, matures in 10 years, and is selling today at $865. The yield to maturity on this bond is
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