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Backwater Corp. has 8 percent coupon bonds making annual payments with a YTM of 7.2 percent. The current yield on these bonds is 7.55 percent.
Backwater Corp. has 8 percent coupon bonds making annual payments with a YTM of 7.2 percent. The current yield on these bonds is 7.55 percent. How many years do these bonds have left until they mature? PLEASE NO FINANCIAL CALCULATOR OR EXCEL, SOLVE WITH EQUATIONS AND CLEARLY LABELED STEPS THANK YOU
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