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The market price is
$825
for a
15-year
bond
($1,000
par value) that pays
9
percent annual interest, but makes interest payments on a semiannual basis
(4.5
percent semiannually). What is the bond's yield to maturity?
Question content area bottom
Part 1
The bond's yield to maturity is
enter your response here%.
(Round to two decimal places.)
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