Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,360, and have 20 years remaining to maturity. Annual interest payment is 19.5 percent ($195), paid semiannually. Compute the approximate yield to maturity. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculation. Round the final answer to 2 decimal places.) Approximate yield to maturity
Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,360, and have 20 years remaining to maturity. Annual interest payment is 19.5 percent ($195), paid semiannually. Compute the approximate yield to maturity. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculation. Round the final answer to 2 decimal places.) Approximate 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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Transcribed Image Text:Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,360, and have 20 years remaining to maturity.
Annual interest payment is 19.5 percent ($195), paid semiannually.
Compute the approximate yield to maturity. (Use a Financial calculator to arrive at the answers. Do not round intermediate
calculation. Round the final answer to 2 decimal places.)
Approximate yield to maturity
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