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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 20- year

You notice in the WSJ a bond that is currently selling in the market for $1,070 with a coupon of 11% and a 20- year maturity. Using annual compounding, calculated the promised yield on this bond.

Show how to get from a to b

Or how to compute in excel

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