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On 15 August 1996 the U.S. Treasury issued a bond maturing on 15 August 2026. The bond has a coupon rate of 6%, payable semiannually
On 15 August 1996 the U.S. Treasury issued a bond maturing on 15 August 2026. The bond has a coupon rate of 6%, payable semiannually on 15 February and 15 August of every year. If a $100 face value bond is selling for $117.25 on 15 August 2015, what is the bonds yield to maturity (YTM)? Show work please
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