The market price is ​$1,200 for a 19​-year bond ​($1,000 par​ value) that pays 9 percent annual​ interest, but makes int

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answerhappygod
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The market price is ​$1,200 for a 19​-year bond ​($1,000 par​ value) that pays 9 percent annual​ interest, but makes int

Post by answerhappygod »

The market price is ​$1,200 for
a 19​-year bond ​($1,000 par​ value) that
pays 9 percent annual​ interest, but makes interest
payments on a semiannual basis
​(4.5 percent​ semiannually). What is the​ bond's
yield to​ maturity?
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