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olya-2409 [2.1K]
3 years ago
7

Jenny LePlaz is looking to invest in a five-year bond that pays annual coupons of 6.25 percent and currently sells at $912.34. W

hat is the current market yield on such bonds?
Business
1 answer:
3241004551 [841]3 years ago
8 0

Answer:

8.47%

Explanation:

annual coupon = 6.25% x $1,000 = $62.50

present value = -$912.34

cash flow 0 = -$912.34

cash flow 1 = $62.50

cash flow 2 = $62.50

cash flow 3 = $62.50

cash flow 4 = $62.50

cash flow 5 = $1,062.50

using an excel spreadsheet and the IRR function we can determine the yield to maturity = 8.47%

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