Question: Question 8 (5 points) What is the Yield-to-Maturity on a 20-year bond with a 3% coupon (paid at 1.5% every six months) that trades at

Question 8 (5 points)

What is the Yield-to-Maturity on a 20-year bond with a 3% coupon (paid at 1.5% every six months) that trades at 1050? STATE YOUR ANSWER IN PERCENT WITH TWO DECIMAL PLACES, ROUNDING UP. DO NOT USE A PERCENT SIGN.________________

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