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What is its yield to maturity

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Reference no: EM132041171

A bond has a $1,000 par value, 12 years to maturity, and a 9% annual coupon and sells for $1,110.

What is its yield to maturity (YTM)?

Assume that the yield to maturity remains constant for the next 4 years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

Reference no: EM132041171

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