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The yield to maturity of a bond with 6 years to maturity, a $1,000 face value, and a 5.4% coupon rate is 5.7% now and
The yield to maturity of a bond with 6 years to maturity, a $1,000 face value, and a 5.4% coupon rate is 5.7% now and was 5.1% one year ago. This implies that the bond is trading now and was trading ------ one year ago. At par, below par Above par, below par Below par, above par At par, above par Above par, at par Below par, at par
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