A $5,000 face value municipal bond matures in 8 years and has a market value of $5,230. The coupon rate is 3.9% with interest paid semiannually. What is the yield to maturity?
A) 2.92%
B) 3.10%
C) 3.24%
D) 3.42%
E) 4.38%
Correct Answer:
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