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What is the yield to maturity (YTM) on a bond that was purchased for $1,429.48, has an annual rate of 6%, makes one payment annually,
What is the yield to maturity (YTM) on a bond that was purchased for $1,429.48, has an annual rate of 6%, makes one payment annually, will mature in 15 years, and has a $1,500 par value? Please show every step of the problem.
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