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Bonds issued by the Crane Optical Company have a par value of $1, 000 which is also the amount of principal to be paid at maturity. The bonds are currently selling for $850. They have 10 years remaining to maturity. The annual interest payment is 9 percent ($90). Compute the approximate yield to maturity, using Formula 10-2 on page 277. Formula for Bond Yield.© BrainMass Inc. brainmass.com June 3, 2020, 7:26 pm ad1c9bdddf
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First, you need to get all the information needed to replace into the equation as follows: ...
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