Question: You bought a 1 0 - year, $ 3 , 0 0 0 corporate bond for $ 3 , 2 0 0 . If it

You bought a 10-year, $3,000 corporate bond for $3,200. If it pays 5% of the face value each year and you plan to keep it to maturity, what will be your yield on this bond? (Give your answer in percent format and round to two decimal places.)

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