Determine what is the yield-return on the bond

Reference no: EM13233782

A corporate bond has a face value of $10,000 with a bond rate of 10%. The interest of the bond will be paid quarterly. The bond will mature in 10 years. If the bond is sold at $8,500 on the market, what is the yield (return) on the bond?

Reference no: EM13233782

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