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A bond is selling at $1170. It pays semi-annual coupon at 6% coupon rate. Time to maturity is 8 years. What is the yield to

A bond is selling at $1170. It pays semi-annual coupon at 6% coupon rate. Time to maturity is 8 years. What is the yield to maturity (YTM) of this bond? Answer: 3.54%

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