bond’s yield

June 28, 2019
June 28, 2019

The market price is ​$750 for a 13​-year bond ​($1,000 par​ value) that pays 11 percent annual​ interest, but makes interest payments on a semiannual basis ​(5.5 percent​ semiannually). What is the​ bond’s yield to​ maturity?

The​ bond’s yield to maturity is ___%. ​ (Round to two decimal​ places.)

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