Scott Turner has a bond with 10 years to maturity, a face value of $1,000, an 8% interest rate, and a market price of $800. What is the yield-to-maturity on this bond?
A) 4.00 percent
B) 6.67 percent
C) 8.00 percent
D) 10.00 percent
E) 11.11 percent
Correct Answer:
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