Generic inc issued bonds in 1988 that will mature 16 years
Generic Inc. issued bonds in 1988 that will mature 16 years from today. The bonds pay a 14.375% coupon and the interest is paid semiannually. The bonds' current price is $1,508.72. What is the yield to maturity on the bonds?
7.67%
16.92%
14.40%
8.5%
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