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(1 point) (Exercise 6.22) A $100 bond with annual coupons is redeemable at par at the end of 20 years. At a purchase price of

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(1 point) (Exercise 6.22) A $100 bond with annual coupons is redeemable at par at the end of 20 years. At a purchase price of $85 the yield rate is exactly 2% more than the coupon rate. Find the yield rate on the bond. ANSWER =

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