Jackson Corp. $1,000 par value bonds currently sell for $752.18. The coupon rate is 7 percent, paid semiannually
If the bonds have 6 years before maturity, what is the yield to maturity on the bonds?
What will be an ideal response?
Yield to maturity = 14.07%, using Excel YIELD function, with Settlement Date = "January 1, 2010", Maturity Date =
"January 1, 2016", Rate = .07, Pr = 75.218, Redemption = 100, Frequency = 2, and Basis = 0
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