A 20-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon...
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Finance
A 20-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 6%. Required: a. Find the bond equivalent and effective annual yield to maturity of the bond if the bond price is $960. (Round your intermediate calculations to 4 decimal places. Round your answers to 2 decimal places.)
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b. Find the bond equivalent and effective annual yield to maturity of the bond if the bond price is $1,000. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
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