What is the annual yield to maturity, Finance Basics

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What is the annual yield to maturity

Problem:

Evans Emergency Response bonds have 5 years to maturity. Interest is paid semiannually. The bonds have a $1,000 par value and a coupon rate of 9 percent.

Required:

Question: If the price of the bond is $1,085.55, what is the annual yield to maturity?

Note: Can someone please give me a step by step solution?

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Finance Basics: What is the annual yield to maturity

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Finance Basics: What is the annual yield to maturity

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