Question: The yield to maturity on a bond is Select one: a. The interest rate that makes the present value of the payments equal to the

The yield to maturity on a bond is Select one: a. The interest rate that makes the present value of the payments equal to the bond price. b. Based on the assumption that all future payments received are reinvested at the coupon rate. c. Below the coupon rate when the bond sells at a discount and above the coupon rate when the bond sells at a premium. d. Based on the assumption that all future payments received are reinvested at future market rates.

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