Wesley-Townsend bonds have an 8.25% coupon and pay interest annually. The face value is $1,000 and the current market price is $1,004.60 per bond. The bonds mature in 17.5 years. What is the yield to maturity?

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The Answer of Wesley-Townsend bonds have an 8.25% coupon and pay interest annually. The face value is $1,000 and the current market price is $1,004.60 per bond. The bonds mature in 17.5 years. What is the yield to maturity?

Wesley-Townsend Bonds Have an 8