Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,110, and have 20 years remaining to maturity. Annual interest payment is 14.5 percent ($145), paid semiannually.
Compute the approximate yield to maturity.(Use a Financial calculator to arrive at the answers. Do the not round intermediate calculation.Round the final answer to 2 decimal places.)
Approximate yield to maturity %
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