Business, 30.07.2020 01:01 jynaepooh

The Pennington Corporation issued a new series of bonds on January 1, 1985. The bonds were sold at par ($1,000); had a 12% coupon; and mature in 30 years, on December 31, 2014. Coupon payments are made semiannually (on June 30 and December 31). a. What was the YTM on January 1, 1985?

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The Pennington Corporation issued a new series of bonds on January 1, 1985. The bonds were sold at p...

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