Problem:
PBJ corporation issued bonds on January 1,2006. the bonds had a coupon rate of 5.5%, with interest paid semiannually. the face value of the bonds is $1,000 and the bonds mature on january 1,2021.
Required:
Question: What is the yield to maturity for an PBJ corporation bond on january 1, 2012 if the market price of thebond on that date is $ 950?
Note: Please provide reasons to support your answer.