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What is the approximate yield to maturity on the bonds

Jack Jones is interested in buying some bonds. The bonds have a 12% coupon rate and mature in 20 years. If the bonds have a par value of $1,000 and are currently selling for $1,160, what is the approximate yield to maturity on the bonds?

a) 12%
b) 11.6%
c) 8.3%
d) 10.22%

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Finance Basics: What is the approximate yield to maturity on the bonds

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Solution Preview :

Prepared by a verified Expert

Finance Basics: What is the approximate yield to maturity on the bonds

Reference No:- TGS0674510

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Compute kimm''s total standard cost per unit

Q : Find accumulated amount at end of eight month

Q : Create the petty cash fund

Q : Chinese and western parental mind-sets

Q : What is the approximate yield to maturity on the bonds

Q : Compute the total overhead variance

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Solution Preview :

Prepared by a verified Expert

Finance Basics: What is the approximate yield to maturity on the bonds

Reference No:- TGS0674510

Recent Questions Asked Finance Basics

Q : Compute kimm''s total standard cost per unit

Q : Find accumulated amount at end of eight month

Q : Create the petty cash fund

Q : Chinese and western parental mind-sets

Q : What is the approximate yield to maturity on the bonds

Q : Compute the total overhead variance

Q : Develop a parent education program

Q : Assuming the standard

Q : Identify and possible problem caused by each control

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