What is the yield to maturity on the bond

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Problem - Willie owns a $1,000 face value Proctor & Gamble bond with a 7% coupon, the bond matures in 30 years and it is callable in 8 years at a redemption price of $1,020, The current price of the bond is $940. What is the yield to maturity on the bond?

Reference no: EM132979118

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