Calculating Yields. Assume that 10 years ago you purchased a $1,000 bond for $820. The bond pays
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Calculating Yields. Assume that 10 years ago you purchased a $1,000 bond for $820. The bond pays 6.75 percent interest and will mature this year.
a. Calculate the current yield on your bond investment at the time of the purchase.
b. Determine the yield to maturity on your bond investment at the time of purchase.
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