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Your just purchased a corporate bond with a par value of $1,000 for $897.25. It carries a 6.5% coupon rate and will mature in 7
Your just purchased a corporate bond with a par value of $1,000 for $897.25. It carries a 6.5% coupon rate and will mature in 7 years. What is the yield to maturity?
Answer in percentage format rounded to 2 decimals. For example, 0.05432 would be 5.43.
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