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A zero - coupon bond with a face value of $ 1 , 0 0 0 and 8 years to maturity is currently priced at

A zero

-

coupon bond with a face value of $

1, 000

and

8

years to maturity is currently priced at

650 .

Calculate the yield to maturity

(

YTM

)

of this zero

-

coupon bond

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