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Posted on Oct 07, 2024

The market price is $ 1 1 5 0 for a 1 6 - year bond ( $ 1 0 0 0 par value )

The market price is

1150

for a

16 -

year bond

(

1000

par

value

)

that pays

12

percent annual

interest, but makes interest payments on a semiannual basis

(6

percent

semiannually

) .

What is the

bond's yield to

maturity?

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