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2. Problem 7.02 (Yield to Maturity and Future Price) A bond has a $1,000 par value, 20 years to maturity, and an 8% annual coupon

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2. Problem 7.02 (Yield to Maturity and Future Price) A bond has a $1,000 par value, 20 years to maturity, and an 8% annual coupon and sels for $1,110. a. What is ais yleid to maturity (YTM)? Round your answer to tao decimal places: b. Assume that the yieid to maturity remains constant for the next three years. What will the price be 3 years from today? Do not round intemediate calcuatisnt. Aound your nnswer to the nearest cent

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