Calculating the yield to maturity of a bond, Finance Basics

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Calculating the yield to maturity of a bond

What is the yield to maturity of a bond that pays an 11% coupon rate with annual coupon payments, has a par value of $1,000, matures in 9 years, and is currently selling for $897? Round your answer to the nearest whole percent, and assume annual coupon payments.

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Finance Basics: Calculating the yield to maturity of a bond

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