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A $ 2 0 , 0 0 0 , 5 year bond has a stated rate of 6 % and sells for $ 2 0

A $

20, 000, 5

year bond has a stated rate of

6 %

and sells for $

20, 000 .

What is the yield to maturity?

Multiple choice question.

Less than

6 %

6 %

Greater than

6 %

Cannot be determined

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