-Given the Bond Described Above,if Interest Were Paid Semi-Annually (Rather

question 49

Multiple Choice

$$\begin{array} { | l | l | } \hline \text { Par Value } & \$ 1,000 \\\hline \text { Time to Maturity } & 18 \text { years } \\\hline \text { Coupon } & 9 ^ { \circ } \% ( \text { paid annually) } \\\hline \text { Current Price } & \$ 917.99 \\\hline \text { Yield to Maturity } & 10 ^ { \circ } \% \\\hline\end{array}$$
-Given the bond described above,if interest were paid semi-annually (rather than annually) ,and the bond continued to be priced at $917.99,the resulting effective annual yield to maturity would be:

• A)Less than 10%
• B)More than 10%
• C)10%
• D)Cannot be determined
• E)None of the above

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