What is the yield to maturity of a 12-year bond that pays a


What is the yield to maturity of a 12-year bond that pays a coupon rate of 7.97 percent per year, has a $1,000 par value, and is currently priced at $931?

Assume annual coupon payments. You should use Excel or financial calculator.

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Financial Management: What is the yield to maturity of a 12-year bond that pays a
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