Yield to maturity and future price
A bond has a $1,000 par value, 12 years to maturity, and a 8% annual coupon and sells for $980.
What is its yield to maturity (YTM)? Round your answer to two decimal places.
____________ %
Assume that the yield to maturity remains constant for the next 4 years. What will the price be 4 years from today? Round your answer to the nearest cent.
____________$