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The market price is ​$900 for a 16​-year bond ​($1,000 par​ value) that pays 12 percent annual​ interest, but makes interest payments on a semiannual basis

The market price is ​$900 for a 16​-year bond ​($1,000 par​ value) that pays 12 percent annual​ interest, but makes interest payments on a semiannual basis ​(6 percent​ semiannually). What is the​ bond’s yield to​ maturity?

The​ bond’s yield to maturity is ___ ​%. ​

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