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(Related to Checkpoint 9.2) (Yield to maturity) The market price is $800 for a 20 -year bond ( $1,000 par value) that pays 11 percent
(Related to Checkpoint 9.2) (Yield to maturity) The market price is $800 for a 20 -year bond ( $1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual basis (5.5 percent semiannually). What is the bond's yield to maturity? The bond's yield to maturity is \%. (Round to two decimal places.) Step by Step Solution
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Capital Markets Institutions And Instruments
Authors: Frank J. Fabozzi, Franco Modigliani
2nd Edition
0133001873, 978133001877
