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What is the yield to maturity of a $1,000 par value bond that pays 7 percent and matures in 10 years? Assume the price is

What is the yield to maturity of a $1,000 par value bond that pays 7 percent and matures in 10 years? Assume the price is $1,100.

a.

8.77%
b.

5.66%
c.

10.96%
d.

6.6%

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