Question: Problem 1 8 - 1 2 Yield to Maturity ( LO 3 , CFA 1 ) A municipal bond with a coupon rate of 4

Problem 18-12 Yield to Maturity (LO3, CFA1)
A municipal bond with a coupon rate of 4.50 percent sells for $4,835 and has ten years until maturity. What is the yield to maturity of the bond?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

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