A bond has a 1000 par value 20 years to maturity and a 5, Financial Management

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A bond has a 1000 par value 20 years to maturity and a 5

A bond has a $1,000 par value, 20 years to maturity, and a 5% annual coupon and sells for $860. 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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Financial Management: A bond has a 1000 par value 20 years to maturity and a 5

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Financial Management: A bond has a 1000 par value 20 years to maturity and a 5

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