Question: Johnny Rocket has a bond issue outstanding that pays a coupon rate of 5.625% and has a face value of $1,000. coupon payments are made

Johnny Rocket has a bond issue outstanding that pays a coupon rate of 5.625% and has a face value of $1,000. coupon payments are made semiannually on september 15th and march 15th. the bond was issued on september 16th, 2018 and it matures on september 15th, 2029. today is march 16th, 2021 and the bond is selling for 1070. what is the yield to maturity on the bond?

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