?(Yield to? maturity)
The Saleemi? Corporation's ?$1,000 bonds pay 7 percent interest annually and have 11 years until maturity. You can purchase the bond for ?$905.
a. What is the yield to maturity on this? bond?
b. Should you purchase the bond if the yield to maturity on a? comparable-risk bond is 7 ?percent?
Round to nearest cent or two decimal places.