(Yield to maturity) A bond's market price is $1,150. It has a $1,000 par value,...
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(Yield to maturity) A bond's market price is $1,150. It has a $1,000 par value, will mature in 14 years, and has a coupon interest rate of 11 percent annual interest, but makes its interest payments semiannually. a. What is the bond's yield to maturity in 14 years? b. What happens to the bond's yield to maturity if the bond matures in 28 years? c. What if it matures in 7 years? Please show the detailed formula so I will understand how to do these moving forward! Thanks so much for your help!!
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