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(Related to Checkpoint 9.2) (Yield to maturity) The market price is $775 for a 14-year bond ($1,000 par value) that pays 11 percent annual
(Related to Checkpoint 9.2) (Yield to maturity) The market price is $775 for a 14-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.)
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
