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The yield to maturity on a bond is below the coupon rate when the bond sells at a discount, and above the coupon rate when

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The yield to maturity on a bond is below the coupon rate when the bond sells at a discount, and above the coupon rate when the bond s: at apremium the discount rate that will set the present value of the payments equal to the bond price based on the assumption that any payments received are reinvested at the coupon rate all of the above

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