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QUESTION
A 21-year U. Treasury bond with a face value of $1,000 pays a coupon of 5.75% (2.875% of face value every six months). The reported yield to maturity...
A 21-year U.S. Treasury bond with a face value of $1,000 pays a coupon of 5.75% (2.875% of face value every six months). The reported yield to maturity is 5.4% (a six-month discount rate of 5.4/2 = 2.7%). (Do not round intermediate calculations.
