Maxim paid $5,162.94 for a $5,000 face value bond bearing interest at 6.2% payable semiannually. The bond

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Maxim paid $5,162.94 for a $5,000 face value bond bearing interest at 6.2% payable semiannually. The bond has 8 years remaining to maturity. What is the bond's yield to maturity? (Round your final percentage answer to 2 decimal places.)

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Posted Date: Apr 19, 2024 08:11 AM

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Maxim paid $5,162.94 for a $5,000 face value bond bearing interest at 6.2% payable semiannually. The bond

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To solve this problem we need to find the yield to maturity YTM of the bond Given informa... View the full answer

Contemporary Business Mathematics with Canadian Applications

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