Sentry Corp. bonds have an annual coupon payment of 7.25%. The bonds have a par value of $1,000, a current price of $1,125, and they will mature in 13 years. What is the yield to maturity on these bonds?
A. 5.56%
B. 5.85%
C. 6.14%
D. 6.45%
E. 6.77%
Answer: B
Business
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