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(Yield to maturity) Fitzgerald's 20 -year bonds pay 7 percent interest annually on a $1,000 par value. If the bonds sell at $815, what is

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(Yield to maturity) Fitzgerald's 20 -year bonds pay 7 percent interest annually on a $1,000 par value. If the bonds sell at $815, what is the bond's yield to maturity? What would be the yield to maturity if the bonds paid interest semiannually? Explain the difference. a. The bond's yield to maturity if the bond pays interest annually is \%. (Round to three decimal places.)

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