The yield to maturity on a bond is: a. b. C. d. below the coupon rate when
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The yield to maturity on a bond is:
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a. b. C. d. below the coupon rate when the bond sells at a discount and above the coupon rate when the bond sells at a premium the interest rate that makes the present value of the payments equal to the bond price based on the assumption that all future payments received are reinvested at the coupon rate based on the assumption that all future payments received are reinvested at future market rates
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