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A 10-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 4%. Find the bond yield to maturity (YTM)

A 10-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 4%. Find the bond yield to maturity (YTM) of the bond if the bond price is:

SHOW ALL WORK

(a) $950

(b) $1,000

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