Brown Enterprises’ bonds currently sell for $1,025. They have a 9-year maturity, an annual coupon of $80, and a par value of $1,000. What is their yield to maturity?
Yield to Maturity Formulae :YTM = I + (F-P) / n(F+P) / 2 Therefore,I = 80F = 1000P = 1025n=9YTM = 80 + ( 1000 – 1025 ) / 9( 1000 + 1025 ) / 2 or, 77.221012.5 or,or, 0.07637.63% where I =…
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