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12-12-2020
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Garvin Enterprises' bonds currently sell for $1,150. They have a 6-year maturity, an annual coupon of $85, and a par value of $1,000. What is their current yield?

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12-12-2020

Answer:

7.39%

Explanation:

Calculation for What is their current yield

We are going to use Financial calculator to find their current yield

N represent Number of years=6 years

PV represent Present value=$1,150

PMT= $85

Face value represent FV= $1,000

Hence,

Current yield = 7.39%

Therefore What is their current yield is 7.39%

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