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
Section: Chapter Questions
Problem 14P: Current Yield with Semiannual Payments
A bond that matures in 7 years sells for $1,020. The bond has...
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Assume all bonds have a face or par value of 1,000 unless told otherwise
![A premium annual-pay bond pays a $78 coupon, has a yield
to maturity of 5.26%, and is priced at $1,170.43. How many
years till the bond matures? Answer in years to at least two
decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc9659bf0-1b68-44e7-9939-e8c666150000%2F52f1f767-79cc-46ce-9706-9aae37f1bd44%2Fwdjbais_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A premium annual-pay bond pays a $78 coupon, has a yield
to maturity of 5.26%, and is priced at $1,170.43. How many
years till the bond matures? Answer in years to at least two
decimal places.
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