Years to maturity
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38. Beach Combers International has 5.75% coupon bonds outstanding with a current market price of $689.40. The yield to maturity is 11.20% and the face value is $1,000. Interest is paid semiannually. How many years is it until these bonds mature?
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Solution Summary
The solution explains how to determine the years to maturity of a bond
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The current market price is the present value of interest and principal. We use this to calculate the number of years. The interest ...
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