What is yield to maturity if interest is paid once year

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Reference no: EM132056222

A bond has 8 years until maturity, carries a coupon rate of 8%, and sells for $1,100.

What is the yield to maturity if interest is paid once a year and if its paid semiannually?

NOTE: do not use excel for YTM, please show the answers for YTm using the Bond price formula equating price and solving for r!

Reference no: EM132056222

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