Problem 18-12 Yield to Maturity (LO3, CFA1) A municipal bond with a coupon rate of 4.50 percent sells for $4,835 and has ten years until maturity. What is the yield to maturity of the bond? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

Essentials Of Investments
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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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Problem 18-12 Yield to Maturity (LO3, CFA1)
A municipal bond with a coupon rate of 4.50 percent
sells for $4,835 and has ten years until maturity. What is
the yield to maturity of the bond?
Note: Do not round intermediate calculations. Enter
your answer as a percent rounded to 2 decimal places.
Transcribed Image Text:Problem 18-12 Yield to Maturity (LO3, CFA1) A municipal bond with a coupon rate of 4.50 percent sells for $4,835 and has ten years until maturity. What is the yield to maturity of the bond? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
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