Arizona State University FIN FIN MISC What is the market interest rate or YTM of the following JC Penny bond (face value=1,000, coupon paid semiannually) as reported by FINRA?
coupon paid semiannually) as reported by FINRA? (Assume today is Mar 2, 2019)
Bond Symbol -JCPenny JCP
Coupon – 9.500%
Maturity- Mar 2, 2027
Last Sale Price – 1,062.50
Please show work and formulas for a better understanding (no excel) if possible, please show TVM keys work as well. That would really help.
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