A semi-annual step-up bond matures in 11 years and pays, Financial Management

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A semi-annual step-up bond matures in 11 years and pays

1. A coupon bond pays interest semi-annually, matures in 30 years, has coupon rate of 4% and is currently selling for $700. What is the annual YTM? Show your work

2. A semi-annual step-up bond matures in 11 years and pays zero coupon payments for the first 5 years. During the remaining life of the bond it pays a 5% coupon payment. If the bond has a YTM of 8% what is the current price of the bond? Show your work

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Financial Management: A semi-annual step-up bond matures in 11 years and pays

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