Finding the nominal yield to maturity on the bond

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Question: Michael Inc. has a $1,000 par value bond that is currently selling for $1,300. It has an annual coupon rate of 7%, paid semiannually, and has nine years remaining until maturity. What is the nominal yield to maturity on the bond? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132000266

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