A 15-year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of 5%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices.
(Round your answers to 2 decimal places. Omit the "%" sign in your response.)
|
Bond |
Bond Equivalent Annual |
Effective Annual |
|
Prices |
Yield to Maturity |
Yield to Maturity |
| a. |
$ |
960 |
% |
% |
| b. |
$ |
1,000 |
% |
% |
| c. |
$ |
1,060 |
% |
% |