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Annual interest payment-compute the yield to maturity

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Reference no: EM13894463

Bonds issued by the Coleman Manufacturing company have a par value of $1,000, which of course is also the amount of principal to be paid at maturity. The bonds are currently selling for $690. They have 10 years remaining to maturity. The annual interest payment is 13% ($130). Compute the yield to maturity.

Reference no: EM13894463

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