DON"T USE EXCEL 3. A 4-year, 6% annual coupon bond is trading for $105...
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Accounting
DON"T USE EXCEL
3. A 4-year, 6% annual coupon bond is trading for $105 (par= $100, coupons are paid annually), (A) What is the YTM of the bond if it is held to maturity (4 points) (B) If this bond is callable at the end of 3 years at a call price of $104 (in addition to the coupon to be paid for year 3 ), what is the YTC? (4 points)
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