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Consider a 12 percent, 15-year bond that pays interest semiannually, and its current price is $675. What is the promised yield to maturity? a. 17.77

Consider a 12 percent, 15-year bond that pays interest semiannually, and its current price is $675. What is the promised yield to maturity?

	a.	17.77 percent
	b.	10.23 percent
	c.	2.31 percent
	d.	18.45 percent
	e.	9.26 percent

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