Question: Consider bonds whose par value is 1,000,000/=with a coupon rate of 10% pa paid annually. The bonds have 8 years to maturity and are currently

Consider bonds whose par value is 1,000,000/=with a coupon rate of 10% pa paid annually. The bonds have 8 years to maturity and are currently selling at 1,150,000/=, what is the yield to maturity of these bonds if James purchases them at their current price? 1

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