Subject:FinancePrice:2.86 Bought3
A 3.50 percent coupon municipal bond has 13 years left to maturity and has a price quote of 96.85. The bond can be called in four years. The call premium is one year of coupon payments. (Assume interest payments are semiannual and a par value of $5,000.)
compute the yield to call. ( do not round intermediate calculations. Round your answer to 2 decimal places.)
Purchased 3 times