Oak Bay Software has 11.1% coupon bonds on the market with 18 years to maturity. The...

Oak Bay Software has 11.1% coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and currently sell for 108.7% of par. What is the YTM? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) What is the effective annual yield? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Solutions

Expert Solution

Calculating Yield to Maturity,

Using TVM Calculation,

I = [FV = 1,000, PMT = 55.50, PV = -1,087, n = 36]

I = 10.05%

jeff jeffy answered 2 years ago

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