P6-12 (similar to)
suppose a ten-year, $1,000 bond with an 8.5% coupon rate and semiannual coupons is trading for $1,034.93.
a. what is the bond's yield to maturity (expressed as an apr with semiannual compounding)?
b. if the bond's yield to maturity changes to 9.9% apr. what will be the bond's price?
a. what is the bond's yield to maturity (expressed as an apr with semiannual compounding)?
the bond's yield to maturity is
%. (round to two decimal places.)
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