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11. (10 pts) Twenty $1,000 municipal bonds are offered for sale at $18,000. The bond coupon rate is 6% per year payable semiannually. The bonds

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11. (10 pts) Twenty $1,000 municipal bonds are offered for sale at $18,000. The bond coupon rate is 6% per year payable semiannually. The bonds will mature and be redeemed at face value 5 years from now. If you purchase the bonds, the first interest payment will be received six months from today. You have decided that you will invest in the bonds if your effective annual yield is at least 8.16%, will you buy the bonds? why or why not? Interest rates need to be in semi/semi

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