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PLEASE USE MICROSOFT WORD: A bond with 3 years remaining to maturity pays annual coupon payments of 10% and its nominal value is $1000. What

PLEASE USE MICROSOFT WORD:

A bond with 3 years remaining to maturity pays annual coupon payments of 10% and its nominal value is $1000. What should be the approximate YTM (yield to maturity) for this bond? Use trial and error method to solve this question.

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