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 semiannual coupons is trading for $1,034.17.

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

b. If the bond's yield to maturity changes to 9.1% APR, what will be the bond's price?

Reference no: EM132044553

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