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3. Using the approximate formula for YTM, find the approximate yield to maturity for the following bond with 5% coupon rate if the market price

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3. Using the approximate formula for YTM, find the approximate yield to maturity for the following bond with 5% coupon rate if the market price is given in the table. Show your work. Years to Maturity Face value Bond Price Approx. YTM 4 5 1000 1000 1000 1000 1100 1050 1000 750 6 8

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