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The bond has a 118 coupon rate and a 10 required rate of

a) Delaware Tech Community College has a bond with a 9% coupon rate and $1000 par value. If the bond has 14 years to maturity and sells at $992 currently on the bond market, what is the current yield on the bond?

b) Wilmington Economic Development Corporation has a bond in the market currently priced at $1100. The bond has a 11.8% coupon rate and a 10% required rate of return. Calculate the current yield on the bond.

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Business Economics: The bond has a 118 coupon rate and a 10 required rate of

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