Seven years ago you bought a 1000 par bond with a 55


Seven years ago you bought a $1,000 par bond with a 5.5% semi-annual coupon and a 15-year maturity at a price of $975. Today you sold the bond for $825. What was the yield to maturity on the bond when you sold it?

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Financial Management: Seven years ago you bought a 1000 par bond with a 55
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