A semiannual-pay bond is callable in five years at
A semiannual-pay bond is callable in five years at $106. The bond has an 8% coupon and 15 years to maturity. If the bond is currently trading at $98 today, the yield to call is closest to:
A. 8.22%
B. 8.49%.
C. 9.48%.
参考解答
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2024-11-17 18:09:25
Ans:C
Use the calculator to calculate yield to call:
Time to call is 5 years and semi-annual pay=> N=10,
8% coupon and semi-annual pay=> PMT=4,
The call price is $106 => FV=106,
PV=-98
CPT -> 1/Y=4.7386
4.7386*2=9.48
Therefore the yield to call is 9.48%. C is the correct answer.
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