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Broke Benjamin Co. has a bond outstanding that makes semiannual payments with a coupon rate of...

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Finance

Broke Benjamin Co. has a bond outstanding that makes semiannualpayments with a coupon rate of 6.2 percent. The bond sells for$978.42 and matures in 24 years. The par value is $1,000. What isthe YTM of the bond?

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Broke Benjamin Co. has a bond outstanding that makes semiannualpayments with a coupon rate of 6.2 percent. The bond sells for$978.42 and matures in 24 years. The par value is $1,000. What isthe YTM of the bond?

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