Determining the bond yield to maturity

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De´cor Interiors has an outstanding bond with a $1,000 maturity value and a 5.5 percent coupon rate of interest that was issued 20 years ago. Interest is paid semiannually. The bond, which matures in five years, is currently selling for $1,022. What is the bond's yield to maturity?

Reference no: EM13965579

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