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Jenny is looking to invest in some five-year bonds that pay semi-annual coupons at a coupon rate of 6.25 percent p.a. and are currently selling

Jenny is looking to invest in some five-year bonds that pay semi-annual coupons at a coupon rate of 6.25 percent p.a. and are currently selling at $948.67. The face value is $1,000. What is the current market yield-to-maturity on such bonds? (USE EXCEL or FINANCIAL CALCULATOR. Round to the closest answer.)

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