Question $10,$ P$9-16($similar to$)$

Part $1$ of $2$

HW Score: $58\mathrm{.}61\%,29\mathrm{.}31$ of $50$ points

Points: $0$ of $4$

$($Related to Checkpoint $9\mathrm{.}2)($Yield to maturity$)$ The Saleemi Corporation's $$1,000$ bonds pay $7$ percent interest annually and have $9$ years until maturity. You can purchase the bond for $$915.$

a$.$ What is the yield to maturity on this bond?

b$.$ Should you purchase the bond if the yield to maturity on a comparable$-$risk bond is $10$ percent?

a$.$ The yield to maturity on the Saleemi bonds is $8\%.($Round to two decimal places.$)$