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Blue's Chips Inc. has a $1,000 par value bond that is currently selling for $1,300. It has an annual coupon rate of 7%, paid semiannually,

Blue's Chips Inc. has a $1,000 par value bond that is currently selling for $1,300. It has an annual

coupon rate of 7%, paid semiannually, and has nine years remaining until maturity. What is the annual

yield to maturity on the bond? Please do as much as possible on financial calculator and tell me the keys used.

A) 3.15%

B) 1.57%

C) 3.12%

D) 6.24%

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