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Fitzgerald's 30-year bonds pay 6 percent interest annually on a $1,000 par value. If the bonds sell at $865, what is the bond's yield to

Fitzgerald's

30-year

bonds pay

percent interest annually on a

$1,000

par value. If the bonds sell at

$865,

what is the bond's yield to maturity? What would be the yield to maturity if the bonds paid interest semiannually? Explain the difference.

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