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1. A zero-coupon with a par value of $1,000 is currently trading at $400 with 12 years to maturity. Assuming semi-annual compounding, what is the

1. A zero-coupon with a par value of $1,000 is currently trading at $400 with 12 years to maturity. Assuming semi-annual compounding, what is the yield to maturity on the bond? HINT: Remember zero coupon bonds means no payments and if you are using a financial calculator, PV has to be entered as a negative number.

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