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Please help me study for a test by answering this question. Ravenstar Corporation's bonds make an annual coupon interest payment of 4.60%. The bonds have

Please help me study for a test by answering this question.

Ravenstar Corporation's bonds make an annual coupon interest payment of 4.60%. The bonds have a par value of $1,000, a current price of $880, and mature in 16 years. What is the yield to maturity on these bonds?

To calculate Yield to Maturity, this problem requires solving for

Question 2 options:

a)Yield over 16 years (as a percentage)

b)Present Value of the Bond (in dollars)

c)Payment (in dollars)

d)Coupon rate (as a percentage)

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