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Lemur [1.5K]
3 years ago
13

A Treasury bond that settles on August 10, 2016, matures on September 27, 2021. The coupon rate is 4.6 percent and the quoted pr

ice is 107:7. What is the bond’s yield to maturity? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

3.09%

Explanation:

Yield to maturity = [C + ((F - P) / n)] / [(F + P) / 2]

Face value = $1,000

C = Coupon or interest payment = $1,000 * 4.6% = $46

P = quoted price = $1,000 * 107% = $1070

n = Years to maturity = 5

Therefore, we have:

Yield to maturity = [46 + ((1,000 - 1,070) / 5)] / [(1,000 + 1,070) / 2] = 0.0309. or 3.09%  

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====================================================

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-------------

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