Yield to maturity and future price
A bond has a $1,000 par value, 15 years to maturity, and a 8% annual coupon and sells for $1,080.
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 3 years. What will the price be 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent. $