Company Z's bonds make an annual coupon interest payment of 7.45% every year. The bonds have a
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Question:
Company Z's bonds make an annual coupon interest payment of 7.45% every year. The bonds have a par value of $1,000, a current price of $965, and mature in 12 years. What is the yield to maturity on these bonds?
a.
6.83%
b.
7.91%
c.
7.25%
d.
5.71%
e.
8.33%
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