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What is the yield to maturity of a 21-year bond that pays a coupon rate of 7
What is the yield to maturity of a 21-year bond that pays a coupon rate of 7.76 percent per year, has a $1,000 par value, and is currently priced at $946? 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 Excel or financial calculator.
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