(Yield to maturity)The market price is $850 for a 13-year bond ($1,000 par value) that...
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Finance
(Yield to maturity)The market price is
$850
for a
13-year
bond
($1,000
par value) that pays
11
percent annual interest, but makes interest payments on a semiannual basis
(5.5
percent semiannually). What is the bond's yield to maturity?
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