A bond currently trades at $980 on the secondary market.The bond has 10 years until maturity and pays a SEMIANNUAL coupon at 9% APR of face value.The face value of the bond is $1,000.What is the yield to maturity for this bond?
A) 9.00%
B) 9.18%
C) 9.25%
D) 9.31%
Correct Answer:
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