Solved: 1 the annual ytm on a bond-equivalent basis is, Accounting Basics

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1 the annual ytm on a bond-equivalent basis is

Consider the following information on a bond for the next 2 problems:

Coupon rate = 11%

Maturity = 18 years

Par value = $1,000

market price for this bond $1,169 First par call in 13 years

Only put date in five years and putable at par value

1. The annual YTM on a bond-equivalent basis is approximately:

a.7.099%

b. 9.077%

c.11%

d.10.23%

e.11.49%

2. Which of the following is false?

a. The PV of the total coupon payments is $966.663

b. The PV of the maturity value is $202.327

c. The bond is sold at a discount

d. The bond is sold at a premium

e. The bond price shows a capital gain

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Accounting Basics: 1 the annual ytm on a bond-equivalent basis is

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