A bond has a $1,000 par value, 12 years to maturity, and a 9% annual coupon and sells for $1,110.
What is its yield to maturity (YTM)?
Assume that the yield to maturity remains constant for the next 3 years. What will the price be 3 years from today?
Nungesser Corporation's outstanding bonds have a $1,000 par value, a 6% semiannual coupon, 9 years to maturity, and an 8.5% YTM. What is the bond's price?