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Problem 1: (6 marks) The North Life Corp. issued a 20-year bond 5 years ago with a face value of $1,000 and a coupon rate

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Problem 1: (6 marks) The North Life Corp. issued a 20-year bond 5 years ago with a face value of $1,000 and a coupon rate of 5% (semi-annual payments). The bond is currently selling for a quoted price of 102.55. What is the yield to maturity to an investor who buys it today at that price

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