(Answered) Yield to maturity the market price is 950 for a 15-year

Engineering

(Yield to? maturity) The market price is ?$950 for a 15?-year bond ?($1,000 par? value) that pays 11 percent annual? interest, but makes interest payments on a semiannual basis ?(5.5 percent? semiannually). What is the? bond's yield to? maturity? Round to two decimal places.

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