Finance-you own a bond with the following features: face value of $1000,

| January 30, 2017

uestion
You own a bond with the following features: face value of $1000, coupon rate of 6% (semiannual compounding), and 15 years to maturity. The bond has a current price of $1,200. The bond is callable after nine years with the call price of $1100. What is the yield to call if the bond is called at seven years (state as an APR)?

Enter your answer to 2 decimal places. For example 5.27

Please show the steps by using financial calculator, thanks!

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