Blue Crab, Inc. plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be 11-year to maturity, carry a 7.06 percent annual coupon, and have a $1,000 par value.
Blue Crab, Inc. plans to issue new bonds, but is uncertain how the
market would set the yield to maturity. The bonds would be 11-year to maturity, carry a 7.06 percent annual coupon, and have a $1,000 par value. Blue Crab, Inc. has determined that these bonds would sell for $739 each. What is the yield to maturity for these bonds? Round answer two decimal places in percentage
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