Question: Please help solve with correct answer. 9-16 (similar to) (Related to Checkpoint 9.2) (Yield to maturity) The Saleemi Corporation's $1,000 bonds pay 8 percent interest

Please help solve with correct answer.

9-16 (similar to) (Related to Checkpoint 9.2) (Yield to maturity) The Saleemi Corporation's $1,000 bonds pay 8 percent interest annually and have 9 years until maturity. You can purchase the bond for $1,075 a. What is the yield to maturity on this bond? b. Should you purchase the bond if the yield to maturity on a comparable-risk bond is 5 percent? a. The yield to maturity on the Saleemi bonds is % (Round to two decimal places.)

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