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Ordinary bonds issued by Merrill Lynch mature in 15 years and pay coupons twice per year. These Merrill Lynch bonds, which are scheduled to pay
Ordinary bonds issued by Merrill Lynch mature in 15 years and pay coupons twice per year. These Merrill Lynch bonds, which are scheduled to pay a coupon in exactly 6 months, currently sell for $942.01. If these Merrill Lynch bonds have an annual coupon rate of 5.1%, their YTM is:
5.68% 4.26% 2.84% 5.11% 5.40%Step by Step Solution
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