Fullerton Company's bonds are currently selling for $1,200.00 per $1,000 par-value bond. The bonds have a 10% coupon rate and will mature in 10 years. What is the approximate yield to maturity? (Solve this problem using either Excel's "Goal Seek" function or a financial calculator.)

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The Answer of Fullerton Company's bonds are currently selling for $1,200.00 per $1,000 par-value bond. The bonds have a 10% coupon rate and will mature in 10 years. What is the approximate yield to maturity? (Solve this problem using either Excel's "Goal Seek" function or a financial calculator.)

Fullerton Company's Bonds Are Currently Selling for $1,200