Question: A bond's current dollar price is $1,000, the same as its par value. The bond has 5 years to maturity and a 9% coupon rate.

A bond's current dollar price is $1,000, the same as its par value. The bond has 5 years to maturity and a 9% coupon rate. The bond makes semiannual coupon payments. What is the bonds yield to maturity?

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