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A bond has a par value of $1,000, 6 years to maturity, and a coupon rate of 6% with semi-annual coupons. If the price is
A bond has a par value of $1,000, 6 years to maturity, and a coupon rate of 6% with semi-annual coupons. If the price is $978.50, what is the YTM? Express the answer as an annualized rate.
6.87%
6.44%
6.22%
5.77%
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