Zero-coupon bond-what is the effective yield to maturity

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Assume a zero-coupon bond that sells for $774 will mature in 10 years at $2,200. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

What is the effective yield to maturity? (Assume annual compounding. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Reference no: EM131511094


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