The 5 percent semiannual coupon bonds of Under The Counter, Inc., are selling for $995.25.The bonds have a face value of $1,000 and mature in 12 years.What is the yield to maturity?
A) 5.09 percent
B) 5.05 percent
C) 10.07 percent
D) 5.26 percent
E) 11.1 percent
Correct Answer:
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