Three years ago you purchased a 8 % coupon bond that pays semiannual coupon payments for $987. What would be your bond equivalent yield if you sold the bond for current market price of $1,057?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter6: Fixed-income Securities: Characteristics And Valuation
Section: Chapter Questions
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Three years ago you purchased a 8% coupon bond that pays semiannual coupon payments for $987. What would be
your bond equivalent yield if you sold the bond for current market price of $1,057?
Transcribed Image Text:Three years ago you purchased a 8% coupon bond that pays semiannual coupon payments for $987. What would be your bond equivalent yield if you sold the bond for current market price of $1,057?
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