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QUESTION
What is the yield of maturity of a 4-year bond that pays a coupon rate of 6.23 percent per year, has a $1,000 par value, and is currently priced at
What is the yield of maturity of a 4-year bond that pays a coupon rate of 6.23 percent per year, has a $1,000 par value, and is currently priced at $990? Assume annual coupon payments. Round the answers to two decimal places in percentage form.
