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Compute the bond yield to maturity today

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Reference no: EM131201885

Quiver Archery's bond currently is selling for $1,005; its value one year ago was $990.

The bond has a $1,000 maturity value and a coupon rate equal to 7 percent, and it matures in eight years. Interest is paid annually.

Compute the bond's yield to maturity today.

Reference no: EM131201885

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