When used in return on investment (ROI) calculations, turnover equals sales divided by average operating assets.
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Answer:
4.40
Explanation:
For the nature of the Yield to Call and Yield to maturity
You can eiher solve with excel, a financial calculation or with approximation method
This will be the formula for approximation method
PTM= 41.25 (1,000 x 8.25 = 82.5 annual interest divide by 2 as there are semiannual payment)
C= 1045 This is the value of the called bond
F= 1000 The face value of the bond
n= 12 (6 years 2 payment per year)
We plug this into the formula and solve
partiel result of the upper part: 45
partial result, divisor: 1022.5
quotient 4.4009780%