Answer:
8 years and 6 months
Explanation:
Data provided in the question:
Bond issue date = June 15, 2007
Maturity date of bonds = June 15, 2017
Now,
Total time period of maturity i.e from June 15, 2007 to June 15, 2017
= 10 years
Thus,
The bond will mature in 10 years
also,
according to the question,
if today is December 16, 2008 i.e 1 year and 6 months have passed
Therefore,
The bond's time to maturity will be = 10 years - ( 1 years and 6 months )
= 8 years and 6 months
