A bond has a 1000 par value 10 years to maturity and a 7, Finance Basics

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A bond has a 1000 par value 10 years to maturity and a 7

Question: A bond has a $1,000 par value, 10 years to maturity, and a 7% annual coupon and sells for $985. What is its yield to maturity (YTM)? Round your answer to two decimal places.

Assume that the yield to maturity remains constant for the next 4 years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

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Finance Basics: A bond has a 1000 par value 10 years to maturity and a 7

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Finance Basics: A bond has a 1000 par value 10 years to maturity and a 7

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