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Question
Facade Securities has an issue of $1,000 par value bonds with 18 years remaining to maturity. The bonds pay 7.7% interest on a semiannual basis. The current market price of the bonds is $1,175. What is the yield-to-maturity of the bonds?A) 6.09%
B) 6.87%
C) 7.24%
D) 8.38%
Answer
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