Suppose a 10-year, $1000 bond with an 8% coupon rate and semiannual coupons is trading for $1034.74. What is the bond’s yield to maturity (expressed as an APR with semiannual compounding)? If the bond’s yield to maturity changes to 9% APR, what will the bond’s price be?
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Suppose a 10-year, $1000 bond with an 8% coupon rate and semiannual coupons is trading for $1034.74....
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