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A bond has a coupon rate of 12%, pays interest quarterly, sells for $960, and...

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Question

Finance

A bond has a coupon rate of 12%, pays interest quarterly, sells for $960, and matures in 3 years. What is its yield to maturity (APR)?

A.

6.82%

B.

10.24%

C.

13.65%

D.

3.41%

Answer & Explanation Solved by verified expert
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