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Q. Your firm has issued 15-year zero-coupon bonds with a $1,000 face value. If the bonds are currently selling for $495, what is the annual
Q. Your firm has issued 15-year zero-coupon bonds with a $1,000 face value. If the bonds are currently selling for $495, what is the annual yield to maturity, assuming semiannual compounding?
A) 2.37%
B) 6.83%
C) 4.74%
D) This equation cannot be answered because therer is no coupon payment provided
Please provide all the steps and equations
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