Evans Emergency Response bonds have 7 years to maturity. Interest is paid semiannually. The bonds have a $1,200 par value and a coupon rate of 7...
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Evans Emergency Response bonds have 7 years to maturity. Interest is paid semiannually. The bonds have a $1,200

par value and a coupon rate of 7 percent.

 

If the price of the bond is $1,087.55, what is the annual yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)



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