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Bond based on the closing pricing

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Rocky Mountain Inc (RM) has an outstanding corporate bond with 5 years to maturity, face value of $1000 and a credit rating of BB. The bond pays semi-annual coupon with a coupon rate of 8%. The closing price of the bond on 6/8/2018 is 98.2. as percentage of face value in the market. Bond price = Bond quote% x Bond Face Value

How to calculate the YTM of RM's 5-year bond based on the closing pricing.

Reference no: EM132035712

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