Question: 2. Which $1000 bond has the higher yield to maturity:a 20-year bond selling for $800 with a current yield of 15%or a 1-year bond selling

2. Which $1000 bond has the higher yield to maturity:a 20-year bond selling for $800 with a current yield of 15%or a 1-year bond selling for $800 with a current yield of 5%? Why? (Note: For this question, you are not allowed to use Excel to solve for yield to maturity.)

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