(Yield to maturity)The market price is $1 comma 125 for a 20-year bond ($1 comma...
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(Yield to maturity)The market price is $1 comma 125 for a 20-year bond ($1 comma 000 par value) that pays 12 percent annual interest, but makes interest payments on a semiannual basis (6 percent semiannually). What is the bond's yield to maturity? The bond's yield to maturity is nothing%. (Round to two decimal places.)
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