Question: ( Yield to maturity ) You own a 2 4 - year bond that pays 1 4 percent interest annually. The par value of the

(Yield to maturity) You own a 24-year bond that pays 14 percent interest annually. The par value of the bond is $1,000 and the market price of the bond is $875. What is the yield to maturity of the bond?
The yield to maturity of the bond is
%.(Round to two decimal places.)
(Yield to maturity) You own a 24-year bond that pays 14

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