Evans Emergency Response bonds have 8 years to maturity. Interest is paid semiannually. The bonds have a $1,200 par value and a coupon rate of 9 percent. If the price of the bond is $1,093.52, what is the annual yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
Evans Emergency Response bonds have 8 years to maturity. Interest is paid semiannually. The bonds have a $1,200 par value and a coupon rate of 9 percent. If the price of the bond is $1,093.52, what is the annual yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
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
Problem 1PS
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Evans Emergency Response bonds have 8 years to maturity. Interest is paid semiannually. The bonds have a $1,200 par value and a coupon rate of 9 percent.
If the price of the bond is $1,093.52, what is the annual yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
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