Beach Combers International has 5.75% coupon bonds outstanding with a current market price of $689.40. The yield to maturity is 11.20% and the face value is $1,000. Interest is paid semiannually. How many years is it until these bonds mature?
A) 8.64 years
B) 9.33 years
C) 18.66 years
D) 23.25 years
E) 37.32 years
Correct Answer:
Verified
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