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What is the approximate yield to maturity for a $1,000 par value bond selling for $1,120 that matures in 8 years and pays 12 coupon

What is the approximate yield to maturity for a $1,000 par value bond selling for $1,120 that matures in 8 years and pays 12 coupon rate? Select one: a. 9.4 percent b. 8.5 percent c. 9.9percent d. 13.2 percent

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