FIN 201-Yield to maturity and future price
Yield to maturity and future priceA bond has a $1,000 par value, 20 years to maturity, and a 8% annual coupon and sells for $1,110.What is its yield to maturity (YTM)? Round your answer to two decimal places.%Assume that the yield to maturity remains constant for the next 4 years. What will the price be 4 years from today? Round your answer to the nearest cent.
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