Exotic Flower Imports has an outstanding issue of $1,000 face value bonds that mature in 8 years and sell for $1,041. The bonds pay interest annually, have a yield to maturity of 9.4 percent. What is the bonds' current yield? Don't round steps. 2 decimal answer %

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
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Ab. 111.

Exotic Flower Imports has an outstanding issue of $1,000 face value bonds that mature in 8 years and sell for $1,041. The bonds pay
interest annually, have a yield to maturity of 9.4 percent. What is the bonds' current yield? Don't round steps. 2 decimal answer
%
Transcribed Image Text:Exotic Flower Imports has an outstanding issue of $1,000 face value bonds that mature in 8 years and sell for $1,041. The bonds pay interest annually, have a yield to maturity of 9.4 percent. What is the bonds' current yield? Don't round steps. 2 decimal answer %
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