In The Financial Section Of Your Local Paper You See The Following Bond Quotation Co 2459749

January 17, 2023/in Uncategorized /by pkariuki

In the financial section of your local paper, you see the following bond quotation:

Company

RATE

MATURITY

MO/YR

BID

ASK

CHG

ASK

YLD

BIG CITY

7.00%

Aug 12

104:07

104:08

?????

what is the current ask yield of the Big City bond? Assume that today’s date is August, 2004.

6.14%

6.31%

6.58%

6.73%

ANS: B

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please give a step-by-step answer. Thanks!