Bond Yields

16 -1: (Assume par value of the bonds is $1000 unless otherwise specified.)

The Pioneer Petroleum Corporation has a bond outstanding with an $85 annual interest payment, a market price of $800, and a maturity date in five years. Find the following:

a. The coupon rate.

b. The current rate.

c. The approximate yield to maturity.

16 -1: (Assume par value of the bonds is $1000 unless otherwise specified.)

The Pioneer Petroleum Corporation has a bond outstanding with an $85 annual interest payment, a market price of $800, and a maturity date in five years. Find the following:

a. The coupon rate.

b. The current rate.

c. The approximate yield to maturity.

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