Electrolex, Inc., has four-year bonds outstanding that pay a coupon rate of 6.6 percent

$1.49 Excluding Tax

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QUESTION:

Electrolex, Inc., has four-year bonds outstanding that pay a coupon rate of 6.6 percent and make coupon payments semiannually. If these bonds are currently selling at $914.89, what is the yield to maturity that an investor can expect to earn on these bonds? What is the effective annual yield?


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