$($Related to Checkpoint $9\mathrm{.}2)($Yield to maturity$)$ Hoyden Co$.\text{'}$s bonds mature in $19$ years and pay $7$ percent interest annually. If you purchase the bonds for $$1,300,$ what is their yield

to maturity?

The yield to maturity on the Hoyden bonds is

$\%.($Round to two decimal places.$)$