Jack Jones is interested in buying some bonds. The bonds have a 12% coupon rate

Question

Jack Jones is interested in buying some bonds. The bonds have a 12% coupon rate and mature in 20 years. If the bonds have a par value of $1,000 and are currently selling for $1,160, what is the approximate yield to maturity on the bonds? Question 13 options: a) 12% b) 11.6% c) 8.3% d) 10.22% Jack Jones is interested in buying some bonds. The bonds have a 12% coupon rate and mature in 20 years. If the bonds have a par value of $1,000 and are currently selling for $1,160, what is the approximate yield to maturity on the bonds? Jack Jones is interested in buying some bonds. The bonds have a 12% coupon rate and mature in 20 years. If the bonds have a par value of $1,000 and are currently selling for $1,160, what is the approximate yield to maturity on the bonds? a) 12% b) 11.6% c) 8.3% d) 10.22% 12% 11.6% 8.3% 10.22% a) 12% b) 11.6% c) 8.3% d) 10.22%

Explanation / Answer

d) 10.11% rate(20,120,-1160,1000) =10.11%

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