Question: A $ 1 , 0 0 0 par value 1 0 - year bond with a 1 0 percent coupon rate recently sold for $

A $1,000 par value 10-year bond with a 10 percent coupon rate recently sold for $900. The yield to maturity is:
Question 18 options:
1)10 percent
2) cannot be determined
3) less than 10 percent
4) greater than 10 percent

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