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3. Bond Yields. A bond with face value $1, ooo has a coupon rate of 8%, maturity 10 years, and yield to maturity of 7%.

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3. Bond Yields. A bond with face value $1, ooo has a coupon rate of 8%, maturity 10 years, and yield to maturity of 7%. (LO6-1) a. If interest is paid annually, what is the bond's price? Answer b. If the bond is selling at $970, is its yield to maturity more or less than 8%

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