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QUESTION
A 15-year, 7% non-callable bond pays semi-annual coupon payments. If the face value is $1,000 but the bond sells for $856, what is the annualized
A 15-year, 7% non-callable bond pays semi-annual coupon payments. If the face value is $1,000 but the bond sells for $856, what is the annualized yield on the bond?
A) 4.37%B) 17.5%C) 5.9%D) 8.7%E) 8.3%
