Struggling with bond math question - question itself doesn't make sense to me?
Prepping for an Rx interview. From the recruiter, this is verbatim, the technical question he sent me that will show up in my interview:
"What is the IRR for Rate of Return for a bond trading at $400, now trading at 50% with a coupon of 10%? (Candidate should calculate compound interest in your head)"
How is this calculated without a maturity? Makes no sense to me. assuming i'd do YTM = (coupon + price appreciation/n)/((face+price)/2)
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