YIELD TO MATURITY AND FUTURE PRICE
A bond has a $1,000 par value, 8 years to maturity, and
a 6% annual coupon and sells for $930.
- 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? Do not round intermediate calculations. Round your answer to the nearest cent.
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