Redesigned Computers has 5.25 percent coupon bonds outstanding with a current market price of $546.19. The yield to maturity is 16.28 percent and the face value is $1,000. Interest is paid semiannually. How many years is it until these bonds mature?
A. 6.64 years
B. 7.08 years
C. 12.41 years
D. 14.16 years
E. 28.32 years
Answer: B. 7.08 years
Business
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