Assume that you purchased an 8 percent, 20-year, $1,000 par, semiannual payment bond priced at $1,012.50 when it has 12 years remaining until maturity. Compute: a. Its promised yield to maturity

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
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Assume that you purchased an 8 percent, 20-year, $1,000 par, semiannual payment bond
priced
at $1,012.50 when it has 12 years remaining until maturity. Compute:
a. Its promised yield to maturity

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