Spirit ltd is seeking financing for a new initiative it is, Ask an Expert

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Spirit Ltd. is seeking financing for a new initiative it is contemplating. It intends to issue a new series of bonds on January 1, 2011. They are expected to mature in 20 years, on December 31, 2030, and will have a coupon rate of 10%. They will issue with a par value of $1,000, and coupon payments will be made semi-annually, on June 30 and December 31.

What is the bond’s yield to maturity (YTM) on June 30, 2018, if the bond sold for $963 on that date?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92720358

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