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Problem 7.02 (Yield to Maturity and Future Price) A bond has a $1,000 par value, 8 years to maturity, and a 6% annual coupon and

image text in transcribedProblem 7.02 (Yield to Maturity and Future Price) A bond has a $1,000 par value, 8 years to maturity, and a 6% annual coupon and sell 5 for $930. a. What is its yield to maturity (YTM)? Round your answer to two decimal places.

A bond has a $1,000 par value, 8 years to maturity, and a 6% annual coupon and sells for $930. a. What is its yield to maturity (YTM)? Round your answer to two decimal places. %

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