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(Related to checkpoint 9.2) (Yield to maturity) The market price is $950 for a 13-year bond ($1000 par value) that pays 9 percent annual interest,
(Related to checkpoint 9.2) (Yield to maturity) The market price is $950 for a 13-year bond ($1000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis (4.5 percent semiannually). What is the bonds yield to maturity?
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