What is the yield to maturity express at an annual rate for


The face value of a bond is $1,000. The bonds have a 4.25% coupon rate paid semi-annually and mature in six years. What is the yield to maturity (express at an annual rate) for the bonds if an investor buys them at the $875 market price?

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Financial Management: What is the yield to maturity express at an annual rate for
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