A $1000 par bond having a 4% coupon rate (interst is paid semiannually) with 40 years to maturity is currently selling for $795. What is the yield to maturity for the bond (approximately)?
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A $1000 par bond having a 4% coupon rate (interst is paid semiannually) with 40 years to maturity is currently selling for $795. What is the yield to maturity for the bond (approximately)?
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