You buy a bond for 994 that has a coupon rate of 61 and a, Ask an Expert

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You buy a bond for $994 that has a coupon rate of 6.1% and a 5-year maturity. A year later, the bond price is $1,184. (Assume a face value of $1,000 and annual coupon payments.)

What is the new yield to maturity on the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91785326

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