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A bond has a $1,000 par value, 9 years to maturity, a 9 percent annual coupon, and sells for $1,205. What is the bonds yield
A bond has a $1,000 par value, 9 years to maturity, a 9 percent annual coupon, and sells for $1,205. What is the bonds yield to maturity (YTM)?
| a. | 5.99% | |
| b. | 7.47% | |
| c. | 10.24% | |
| d. | 12.05% | |
| e. | 9.00% |
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