Question: You are considering a 20 year, $1,000 face (par) value bond with a 7 percent annual coupon. The bond pays interest semi-annually. What is the

You are considering a 20 year, $1,000 face (par) value bond with a 7 percent annual coupon. The bond pays interest semi-annually. What is the current yield to maturity on the bond if the bond is selling for $815.98? (State answer in annual percentage rate.) cy = ___ 1 ____ py = ___ 1 _____ End or Bgn mode __ End ____ N_____ 36 __________ FV____ 1000 __________ PMT___ 35 _________ PV____ -815.98 _________ I/Y = ___ _________

What is I/Y?

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