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Round to two decimal places (Yield to maturity) You own a 15-year bond that pays 15 percent interest annually. The par value of the bond

image text in transcribed Round to two decimal places

(Yield to maturity) You own a 15-year bond that pays 15 percent interest annually. The par value of the bond is $1,000 and the market price of the bond is $950. What is the yield to maturity of the bond? The yield to maturity of the bond is [M (Round to two decimal places.)

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