What is the yield to maturity for a $1,000 par value bond with a coupon rate of 9%, semi-annual payments, 12 years to maturity, 4 years to call, call price of $1,050 and a current price of $1,100? 3.59% 7.71% 7.18% 3.85%
Consider a $1,000 par value bond with a 6% coupon rate, semi-annual payments, 8 years to maturity and a price of $1,100. What is the Macaulay duration?