A strips traded on may 1 2011 matures in 12 years on may 1


A STRIPS traded on May 1 2011, matures in 12 years on May 1 2023. The quoted STRIPS price is 55.75. What is its yield to maturity? ( Use Excel to answer this question. Round your answer to 2 decimal places. Omit the "%" sign in your response.)

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Financial Management: A strips traded on may 1 2011 matures in 12 years on may 1
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