Yield to Maturity for Brownstone Corporation's Bonds
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The Brownstone Corporation's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 9%.
a.) What is the yield to maturity at a current market price of $829?
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Solution Summary
Given a bond's current price, years to maturity and interest rate, this solution illustrates how to compute its yield to maturity using the time of money functions in Excel.
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