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You notice in the WSJ a bond that is currently selling in the market for ​$1097...

You notice in the WSJ a bond that is currently selling in the market for ​$1097 with a coupon of 11% and​ a(n) 23​-year maturity. Using annual​ compounding, calculate the promised yield on this bond.

The​ bond's promised yield is

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Answer #1

COUPON RATE 11.00% NPER YEARS TO MATURITY 23 $110.00 (face value x coupon rate) PMT = $1,000.00 FACE VALUE $1,097.00 PRICE PV

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