Zota Inc: A Bond's Yield to Maturity
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Zota Inc. has a bond issue outstanding with 8 years remaining to maturity, a coupon rate of 10% with interest paid annually, and a par value of $1000.
If the current market price of the bond is $814.45, what is the bond's yield to maturity?
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Solution Summary
This solution calculates a bond's yield to maturity if the market price of the bond is $814.45.
Solution Preview
In a financial calculator, we input:
FV = 1000
coupon ...
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