What is the bond yield to maturity

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Suppose a ten-year, $1,000 bond with an 8.8% coupon rate and semi-annual coupons is trading for $1,034.78.

a. What is the bond's yield to maturity (expressed as an APR with semi-annual compounding)?

b. If the bond's yield to maturity changes to 9.6% APR, what will be the bond's price?

Reference no: EM131859611

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