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Yield to maturity and future price

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Yield to maturity and future price

A bond has a $1,000 par value, 15 years to maturity, and a 8% annual coupon and sells for $1,080.

  1. What is its yield to maturity (YTM)? Round your answer to two decimal places.
  2. Assume that the yield to maturity remains constant for the next 3 years. What will the price be 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

Reference no: EM131093375

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