Baker's Men's Wear has a 5.5%, semiannual coupon bond outstanding with a current market price of $978.90. The bond has a par value of $1,000 and a yield to maturity of 5.76%. How many years is it until this bond matures?

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The bond has a yield to maturity of 5.76%, which is greater than its coupon rate of 5.5%. This means that the bond is selling at a discount. The number of years until the bond matures can be calculated using the following formula:Number of years to maturity = (Par value - Market price) / (Coupon payment * (1 + Yield to maturity / 2)^(-2 * Number of years to maturity))Plugging in the given values, we get:Number of years to maturity = (1000 - 978.90) / (55 * (1 + 0.0576 / 2)^(-2 * Number of years to maturity))Solving for the number of years to maturity, we get:Number of years to maturity = 11.10 years

Baker's Men's Wear Has a 5