Question: Please hep me study for a test by answering this question. Ravenstar Corporation's bonds make an annual coupon interest payment of 4.60%. The bonds have

Please hep me study for a test by answering this question.

Ravenstar Corporation's bonds make an annual coupon interest payment of 4.60%. The bonds have a par value of $1,000, a current price of $880, and mature in 16 years. What is the yield to maturity on these bonds?

The annual payment will be calculated as

Question 3 options:

a)Coupon rate/par value

b)Coupon rate x current price

c)Coupon rate x par value

d)Current rate x current price

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