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3. A bond with 20 years to maturity currently sells for $713.25. If the bond pays a 3.5% coupon annually, what is this bonds YTM?

3. A bond with 20 years to maturity currently sells for $713.25. If the bond pays a 3.5% coupon annually, what is this bonds YTM? Hint: The correct answer will round to .00 or .50.

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