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You purchase a bond for $800 that has a face value of $1,000. It pays $70 a year (i.e., the annual coupon is 7%), and

You purchase a bond for $800 that has a face value of $1,000. It pays $70 a year (i.e., the annual coupon is 7%), and the bond matures after ten (10) years. What is the yield to maturity? SHOW ALL YOUR CALCULATIONS TO GET FULL CREDIT. IF YOU USED A FINANCIAL CALCULATOR OR EXCEL, LIST THE INPUTS YOU USED.

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