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P9-16 (similar to)Question Help (Related to Checkpoint9.2) (Yield tomaturity) The SaleemiCorporation's $ 1,000 bonds pay 11 percent interest annually and have 8 years until maturity.

P9-16 (similar to)Question Help

(Related to Checkpoint9.2)(Yield tomaturity)The SaleemiCorporation's $1,000 bonds pay 11 percent interest annually and have 8 years until maturity. You can purchase the bond for $915.

a.What is the yield to maturity on thisbond?

b.Should you purchase the bond if the yield to maturity on acomparable-risk bond is 11 percent?

a.The yield to maturity on the Saleemi bonds is ___________%. (Round to two decimalplaces.)

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