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A bond has a $ 1 , 0 0 0 par value, 8 years to maturity, and a 6 % annual coupon and sells for
A bond has a $ par value, years to maturity, and a annual coupon and sells for $
a What is its yield to maturity YTM Round your answer to two decimal places.
b Assume that the yield to maturity remains constant for the next two years. What will the price be years from today? Do not round intermediate calculations. Round
your answer to the nearest cent.
$
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