Question: A bond has a $1,000 par value, 8 years to maturity, and a 7%annual coupon and sells for $980.What is its yield to maturity (YTM)?

A bond has a $1,000 par value, 8 years to maturity, and a 7%annual coupon and sells for $980.What is its yield to maturity (YTM)? Round your answer to twodecimal places. %Assume that the yield 2 answers

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