Homework answers / question archive /  The market price is $850 for a 12-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis ?(4

 The market price is $850 for a 12-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis ?(4

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 The market price is $850 for a 12-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis ?(4.5 percent semiannually). The? bond's yield to maturity is

____________?%. ? (Round to two decimal? places.)