(Financial calculator required.) Steven, a private investor, can purchase $1,000 par value bonds for $980. The bonds have a 10 percent coupon rate, pay interest annually, and have 20 years remaining until maturity. Steven's yield to maturity is ____ percent.
A) 9.96
B) 10.00
C) 10.33
D) 10.24
E) none of the above
Correct Answer:
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