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Answered: - Dow Chemical Company has bonds outstanding which are price


Dow Chemical Company has bonds outstanding which are priced at $1,273.20. These bonds carry a coupon rate of 8.85%, make semiannual payments, and mature in 11 years. Assuming the par value is $1,000, what is the annual yield to maturity (YTM) on these bonds? (3 points)


Given,

 

Price

 

Face Value

 

Time

 

Frequency

 

Coupon rate

 


 

1273.2

 

1000

 

11 Years

 

2

 

8.85%

 


 

YTM =

 


 

5.51%

 


 

 


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