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Homework: Chapter 7 Homework Save Score: 0 of 1 pt 6 of 7 (2 complete) HW Score: 29.41%, 5 of 17 pts Problem 7-22 (similar

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Homework: Chapter 7 Homework Save Score: 0 of 1 pt 6 of 7 (2 complete) HW Score: 29.41%, 5 of 17 pts Problem 7-22 (similar to) Question Help (Yield to maturity) Assume the market price of a 7-year bond for Margaret Inc. is $975, and it has a par value of $1,000. The bond has an annual interest rate of 7% that is paid semiannually. What is the yield to maturity of the bond? The yield to maturity of the bond is %. (Round to two decimal places.)

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