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A $5,000 face value municipal bond matures in 8 years and has a market value of $5,230. The coupon rate is 3.9% with interest paid
A $5,000 face value municipal bond matures in 8 years and has a market value of $5,230. The coupon rate is 3.9% with interest paid semiannually. What is the yield to maturity? The answer is 3.11% but I do not have finance calculator, please tell me details how to do this question.
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