yrkfred4641 yrkfred4641

24-03-2020
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The bonds issued by Stainless Tubs bear an 8 percent coupon, payable semiannually. The bonds mature in 11 years and have a $1,000 face value. Currently, the bonds sell for $952. What is the yield to maturity?

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abdullahfarooqi abdullahfarooqi

27-03-2020

Answer:

8.69%

Explanation:

Face value (FV)=$ 1,000.00

Coupon rate=8.00%

Interest per period (PMT) =$30.00

Bond price (PV)=$ 952.00

Number of years to maturity 11

Number of compounding periods till maturity (N) 22

Bond Yield to maturity RATE(NPER,PMT,PV,FV)*2 = 8.69 %

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