Colwood Corp. has 10.0% coupon bonds making annual payments with a YTM of 9.2%, current market...

Colwood Corp. has 10.0% coupon bonds making annual payments with a YTM of 9.2%, current market value of $1,054.60.

How many years do these bonds have left until they mature? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Years left to maturity years

Expert Solution

FV = $1000

PMT = $1000 x 10% = $100

YTM = 9.2%

PV = -$1054.60

Inputting these values in the financial calculator, then press "CPT" and "N", we get,

N = 11.23

Therefore, Years left to maturity = 11.23 years

jeff jeffy answered 2 years ago

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