If the bond has an annual interest rate of 7nbsppercent but


A(n)12-year bond for Katy Corporation has a market price of $1,100 and a par value of $1000.

If the bond has an annual interest rate of 7 percent, but pays interest semiannually, what is the bond's yield to maturity?

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Finance Basics: If the bond has an annual interest rate of 7nbsppercent but
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