Answer:
20 years
Explanation:
Current yield = 0.098375, so bond price can be solved from the following: $90/price = 0.098375 * price =
price = 90/0.098375
price = 914.87 dollars
To compute the remaining maturity
put these values in financial calculator
PV = 914.87, FV = 1,000, PMT = 90, i= 10; compute
n= 20.0 years
