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ABC Inc. recently issued $1,000 par bonds at a 3.25% coupon rate. If the bonds have 20 years to maturity and the bonds are quoted
ABC Inc. recently issued $1,000 par bonds at a 3.25% coupon rate. If the bonds have 20 years to maturity and the bonds are quoted at 102.25% of the par value, what is the yield to maturity? Assume semi-annual compounding.
Note: Convert your answer to percentage and round off to two decimal points. Do not enter % in the answer box.
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