Atlanta Power's non-callable bonds have a face value of $1,000, and pay a 9 percent semiannual coupon. In other words, there is a coupon payment of $45 every six months. Each bond has 11 years until maturity, and sells at a price of $1,070. What is the bond's nominal yield to maturity?

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The Answer of Atlanta Power's non-callable bonds have a face value of $1,000, and pay a 9 percent semiannual coupon. In other words, there is a coupon payment of $45 every six months. Each bond has 11 years until maturity, and sells at a price of $1,070. What is the bond's nominal yield to maturity?

Atlanta Power's Non-Callable Bonds Have a Face Value of $1,000