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The market price is $1,050 for a 15-year bond ($1,000 par value) that pays 12 percent annual interest, but makes interest payments on a semiannual
The market price is $1,050 for a 15-year bond ($1,000 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?
12.30% | ||
10.96% | ||
10.30% | ||
11.30% |
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