A $1,000 bond with a coupon rate of 7% and 11 years remaining to maturity has a current market value of $944. Determine the yield to maturity.
A) 7.529 % compounded semiannually
B) 7.766 % compounded semiannually
C) 15.057 % compounded semiannually
D) 3.883 % compounded semiannually
E) 6.749 % compounded semiannually
Correct Answer:
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