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An investor is considering purchasing a bond with a 4.59 percent coupon interest​ rate, a par value of ​$1,000​, and a market price of ​$918.93. The bond will mature in nine years. Based on this​ information, answer the following​ questions:

a. What is the​ bond’s current​ yield?

b. What is the​ bond’s approximate yield to​ maturity?

c. What is the​ bond’s yield to maturity using a financial​ calculator?

​Note: Assume coupon payments are paid annually

 
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