Solutions to Chapter 1
Using a financial calculator, compute the yield to maturity by entering: n = 60; PV = (()900; FV = 1000; PMT = 40, compute i = 4.483%. Verify the solution as follows: (difference due to rounding) Therefore, the annualized bond equivalent yield to maturity is: 4.483% ( 2 = 8.966%. Since the bond is selling for face value, the semi-annual yield ... ................
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