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A coupon bond that pays interest annually is selling at a par value of $1,000, matures in five years, and has a coupon rate of
A coupon bond that pays interest annually is selling at a par value of $1,000, matures in five years, and has a coupon rate of 9%. The yield to maturity on this bond is
Select one:
a. 8.0%.
b. 8.3%.
c. 9.0%.
d. 10.0%.
e. None of the options are correct.
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