Moon Lite Cafe has a semiannual,5 percent coupon bond with a current market price of $988.52.The bond has a par value of $1,000 and a yield to maturity of 5.68 percent.How many years is it until this bond matures?
A) 1.5 years
B) 1.8 years
C) 2.1 years
D) 2.2 years
E) 1.6 years
Correct Answer:
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