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4. A bond has a quoted price of $900 today. It has a face value of $1,000, coupon rate of 6%, and a time to

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4. A bond has a quoted price of $900 today. It has a face value of $1,000, coupon rate of 6%, and a time to maturity of 7 years. Coupons are paid every quarter. What is its yield to maturity? (14 points) Show your calculation to get full points. Check your answer: YTM is 7.87% per year compounded quarterly

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