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What is the yield to maturity of a 28-year bond

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What is the yield to maturity of a 28-year bond that pays a coupon rate of 9.37 percent per year, has a $1,000 par value, and is currently priced at $823.23? Assume annual coupon payments.

Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box).

You should use approximate formula for YTM

Reference no: EM131856415

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