Question: a 1 5 year $ 1 , 0 0 0 bond with a coupon rate of 1 0 % , matures in eight years and

a 15 year $1,000 bond with a coupon rate of 10%, matures in eight years and sells for $1020. what is the expected annual yield to maturity
a 7.9%
b 8.9%
c 7%
d 9.6%

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