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Consider a 12 Percent, 15-Year Bond That Pays Interest Semiannually

Question 115

Multiple Choice

Consider a 12 percent, 15-year bond that pays interest semiannually, and its current price is $675. What is the promised yield to maturity?

A) 10.23 percent
B) 18.45 percent
C) 17.77 percent
D) 2.31 percent
E) 9.26 percent

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