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A municipal security issued by Chicagos local government has an 11 percent coupon rate and make semiannual payments. The bond is currently priced at $863.75

A municipal security issued by Chicago’s local government has an 11 percent coupon rate and make semiannual payments. The bond is currently priced at $863.75 with a face value of $1,000. The yield to maturity on the bond is 12.80 percent. How many years is it until this bond matures?

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