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Question content area top Part 1 (Yield to maturity) Fitzgerald's 15-year bonds pay 9 percent interest annually on a $1,000 par value. If the bonds

Question content area top

Part 1

(Yield to maturity)Fitzgerald's

15-year

bonds pay

percent interest annually on a

$1,000

par value. If the bonds sell at

$885,

what is the bond's yield to maturity? What would be the yield to maturity if the bonds paid interest semiannually? Explain the difference.

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