If this security sold for $2200, the yield to maturity is less than 5%. The lower the interest rate the higher the present value. Dealers in U.S. Treasury securities always refer to prices by quoting the

If this security sold for $2200, the yield to maturity is less than 5%. The lower the interest rate the higher the present value. Dealers in U.S. Treasury securities always refer to prices by quoting the 




A) yield to maturity.
B) coupon rate.
C) current yield
D) yield on a discount basis.




Answer: D


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