A 3 years step-up security pays the following coupons per $1000 par: 45, 55 and...
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A 3 years step-up security pays the following coupons per $1000 par: 45, 55 and 65 at the end of year 1, 2 and 3 respectively. Assume the price is $995 (per $1,000 par). What is this bond YTM? Enter percent round to 2 decimal places
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