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Nookie1986 [14]
3 years ago
8

has 10 percent coupon bonds on the market with 19 years to maturity. The bonds make semiannual payments and currently sell for 1

07.8 percent of par. What is the current yield on the bonds?
Business
1 answer:
katovenus [111]3 years ago
5 0

Answer:

4.62%

Explanation:

we need to calculate the yield to maturity of the bond:

YTM = [coupon + (face value - market value)/n] / [(face value + market value)/2]

  • coupon = $50
  • face value = $1,000
  • market value = $1,078
  • n = 38 semiannual payments

YTM = [$50 + ($1,000 - $1,078)/38] / [($1,000 + $1,078)/2]

YTM = $47.95 / $1,039 = 4.615 ≈ 4.62%

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