Question: (Ref. Unit 9 Exercise 1) A bond pays 8% (annual rate) coupons semiannually. The bond has a par value of $1,000 and matures in 10

(Ref. Unit 9 Exercise 1) A bond pays 8% (annual rate) coupons semiannually. The bond has a par value of $1,000 and matures in 10 years. If the current bond price is $785, what is the yield to maturity of the bond? Note: Write your answer in decimal ( 3 or more decimal places). For example, write 0.2544 instead of 25.44%

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