[Solved] You notice in the WSJ a bond that is curr

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You notice in the WSJ a bond that is currently selling in the market for $1,070 with a coupon of 11% and a(n) 20-year maturity.

You notice in the WSJ a bond that is currently selling in the market for

$1,070

with a coupon of

11%

and a(n)

20-year

maturity. Using annual compounding, calculate the promised yield on this bond.

The bond's promised yield is

___%. round to two decimal places

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