A Japanese company has a bond outstanding that sells for 87 percent of its ¥100,000 par value. The bond has a coupon rate of 4.6 percent paid annually and matures in 17 years. What is the yield to maturity of this bond?

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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A Japanese company has a bond
outstanding that sells for 87 percent of its
¥100,000 par value. The bond has a
coupon rate of 4.6 percent paid annually
and matures in 17 years. What is the yield
to maturity of this bond?
Transcribed Image Text:A Japanese company has a bond outstanding that sells for 87 percent of its ¥100,000 par value. The bond has a coupon rate of 4.6 percent paid annually and matures in 17 years. What is the yield to maturity of this bond?
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