Problem 7.07 – Yield to Maturity of Semiannual Payment Bonds

Fundamentals of Corporate Finance

Ross, Westerfield, and Jordan

13th Edition

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Consider a company that issued bonds with a certain number of years to maturity a couple of years ago at a coupon rate. The bonds make semiannual payments. If these bonds currently sell for a specific percentage of par value, determine the yield to maturity (YTM).

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