Crescent Textile issued a new series of bonds on January 1, 1988. The bonds were...
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Crescent Textile issued a new series of bonds on January 1, 1988. The bonds were sold at par value of Rs. 1,000, had a 10% coupon which equaled the YTM, and matured in 20 years on December 31, 2017. Coupon payments are made semiannually (on June 30 and December 31).
- What is the Yield to Maturity (YTM) at the time of issuance of bonds i.e. January 1, 1987?
On July 1, 2000 (7.5 years before maturity), Crescent Textiles bonds were sold for Rs. 1, 104. What is the YTM for that date?
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