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A bond has eight years to maturity and a coupon rate of 6.5%. Coupon payments are made annually and the bond has a face value

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A bond has eight years to maturity and a coupon rate of 6.5%. Coupon payments are made annually and the bond has a face value of $100. This bond is currently selling in the market for $862. What is the yield-tomaturity on this bond? 6.5 percent 10 percent 8.5 percent 9 percent None of the options are correct

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