A corporate bond has a face value of $$1,000,$ and pays a $$14$ coupon semiannually $($that is$,$ the bond has a $2\mathrm{.}8$ percent coupon$).$ The bond matures in $6$ years and sells at a price of $$545.$ What is the bond's nominal yield to maturity?

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Answer rating: 100% (QA)

The nominal yield to maturity YTM for this bond cant be directly calculated using a simple formula d... View the full answer