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3. a) Explain Yield to maturity (YTM); b) Calculate the YTM of a debt using following information. Face value $1000 and current trading price at

3. a) Explain Yield to maturity (YTM); b) Calculate the YTM of a debt using following information. Face value $1000 and current trading price at $950 Coupon rate is 6% with semi-annual payments . 10 years to maturity

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