Problembonds have 12 years remaining to maturity interest, Ask an Expert

Finance

Problem:

Bonds have 12 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 7.35%. The bonds sell at a price of $1,495.

Question: What is their yield to maturity? Please explain in detail and show your work.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91145728

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