Question: 2 . What is the yield - to - maturity of a bond that sells for 9 3 ( ie 9 3 % of face

2. What is the yield-to-maturity of a bond that sells for 93(ie 93% of face value) with 5 years to maturity and a coupon rate of 7%? Assume annual interest payments and a face value of $1,000. Round answer to two decimals.

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