Qin Corp. issued 15-year bonds two years ago at a coupon rate of 5.1 percent. The bonds make semiannual payments. If these bonds currently sell for 96 percent of par value, what is the YTM

5.54 %

Explanation:

Most Bonds are expressed per $100. I will use this as the Face Value.

We can then calculate the Yield to Maturity (YTM) of the Bonds as follows :

PV = ($100 x 96 %) = - $96

PMT = ($100 x 5.1 %) ÷ 2 = $2.55

N = (15 - 2) x 2 = 26

FV = $100

P/YR = 2

YTM = ??

Using a Financial Calculator to input the values as above, we get a YTM of 5.54 %

metallurgy is your answer

the "study of metals and the process of refining ("

note that it says metal. metallurgy has the word "metal" in it, and so is most likely your answer (and is your answer).

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