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Blossom, Inc., has a 10-year bond that is priced at $ 1,260.00. It has a coupon rate of 6 percent paid semiannually. What is the

Blossom, Inc., has a 10-year bond that is priced at $ 1,260.00. It has a coupon rate of 6 percent paid semiannually.

What is the yield to maturity on this bond?

The answer I got using excel using the rate function* 2, is 2.97% is that correct?

Thank you!

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