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(1 point) (Exercise 6.22) A $100 bond with annual coupons is redeemable at par at the end of 16 years. At a purchase price of

(1 point) (Exercise 6.22) A $100 bond with annual coupons is redeemable at par at the end of 16 years. At a purchase price of $82 the yield rate is exactly 3% more than the coupon rate. Find the yield rate on the bond. ANSWER = %

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