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The market price is $875 for a 19-year bond ($1,000 par value) that pays 12 percent annual interest, but makes interest payments on a semiannual
The market price is $875 for a 19-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?
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International Financial Reporting A Practical Guide
Authors: Alan Melville
6th edition
978-1292200743
