14. Hamilton Corporation's bonds will mature in 15 years. The bonds have a face value of $1,000 and an 8% coupon rate, paid semiannually. The price of the bonds is $1,111.14. What is the yield to maturity of the Hamilton bonds?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
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14. Hamilton Corporation's bonds will mature in 15 years. The bonds have a face value of $1,000 and an
8% coupon rate, paid semiannually. The price of the bonds is $1,111.14.
What is the yield to maturity of the Hamilton bonds?
Transcribed Image Text:14. Hamilton Corporation's bonds will mature in 15 years. The bonds have a face value of $1,000 and an 8% coupon rate, paid semiannually. The price of the bonds is $1,111.14. What is the yield to maturity of the Hamilton bonds?
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