What is the bond yield to maturity

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(Yield to maturity) The market price is $700 for a 16-year bond ($1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual basis (5.5 percent semiannually). What is the bond's yield to maturity? The bond's yield to maturity is |%. (Round to two decimal places.)

Reference no: EM133062145

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