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(Yeld to matunity) You own a 17-year bond that pays 6 percent interest annualy. The par value of the bond is $1,000 and the makket

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(Yeld to matunity) You own a 17-year bond that pays 6 percent interest annualy. The par value of the bond is $1,000 and the makket price of ihe bond is $1,025. What is the yieid to miaturity of the bond? The yield to maturity of the bond is \%. (Round to two decimal places.)

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