(Answered) The market price is 900nbspfor anbsp16-year bond

Finance

The market price is ?$900 for a 16?-year bond ?($1,000 par? value) that pays 12 percent annual? interest, but makes interest payments on a semiannual basis ?(6 percent? semiannually). What is the? bond's yield to? maturity?

The? bond's yield to maturity is ___ ?%. ? (Round to two decimal? places.)

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