FINAL Q10

Question 10

Frest Fruit, Inc. has a $1,000 par value bond that is currently selling for $981. It has an annual coupon rate of 10.46 percent, paid semiannually, and has 18-years remaining until maturity. What would the annual yield to maturity be on the bond if you purchased the bond today and held it until maturity?

You excel or finanical calculator

Round answer to two decimal places in percentage form.