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  3. a bond has a $1,000 par value, seven years to matu

A bond has a $1,000 par value, seven years to maturity, and pays a coupon...

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Finance

A bond has a $1,000 par value, seven years to maturity, and pays a coupon of 5.5% per year, quarterly. The bond can be called in five years at 110% of its par value. If the bonds price is $1,073.53, what is its annual yield to maturity?

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