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A corporation issued a bond 4 years ago with a $1950 face value, maturity in 20 years, and a 8% coupon interest rate; interest is
A corporation issued a bond 4 years ago with a $1950 face value, maturity in 20 years, and a 8% coupon interest rate; interest is paid annually. An investor purchases the bond today for $1999. What is the yield to maturity?
Answer in the format: Answer as a percentage but without the % sign Example: 0.0651 is entered as 6.51 Do not round intermediary calculations. Use the full precision of your calculator or Excel. Round properly to two decimal places Example: .157835 would be entered 15.78 Example: .055555 would be entered 5.56
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