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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