All improved, modified, or original products are classified as NEW PRODUCTS.
Product is improved when gaps were found in it as the gaps are introduced they are termed to resolve it this resolving will help the producer to re-introduce his/her product from the start this product is now classified as to the new product category.
Same like this modification process goes through and developed into a brand new brand or product ad same and we know if any product didn't find a mistake again this product is indeed a new product so all the respective categories are called new products.
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Answer:
The YTM of a bond is 7.67%
Explanation:
From a financial calculator, plug the following figures:
PV = -1029.33
PMT = 40
N = 15*2
=30
FV = 1000
CPT I/Y =3.834%
Then:
YTM = 3.834*2
= 7.67%
Therefore, The YTM of a bond is 7.67%
