Description
Three years ago, Jack's Automotive Jacks issued a 20-year callable bond with a $1000 maturity value and a 8.5 percent coupon rate of interest. Interest is paid semiannually. The bond is currently selling for $1046.
A) What is the bond's yield to maturity?
B) If the bond can be called in four years for a redemption price of $1085, what is the bond's yield to call?
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Explanation & Answer
A
Market price | $1,046.00 |
Par value | $1,000.00 |
Interest | 8.50% |
Frequency | 2 |
N(Years) | 17 |
YTM | 8.00% |
Market price | $1,046.00 |
Par value | $1,000.00 |
Redemption at call | $1,085.00 |
Interest | 8.50% |
Frequency | 2 |
N(Years) | 4 |
Yield to call | 8.92% |
Completion Status:
100%
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