Question: Calculate the yield to maturity on a $1,000 face value bond purchased for $1,034.50 if it carries a 7.9% coupon and has 81/2 years remaining

Calculate the yield to maturity on a $1,000 face value bond

Calculate the yield to maturity on a $1,000 face value bond purchased for $1,034.50 if it carries a 7.9% coupon and has 81/2 years remaining until maturity. (Round your answer to two decimal places.) YTM \% compounded semiannually

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