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11 Pricing bonds with spot rates: A four-year default-free annual-pay coupon bond is priced at 100 percent of par. What is its coupon (in percent

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Pricing bonds with spot rates: A four-year default-free annual-pay coupon bond is priced at 100 percent of par. What is its coupon (in percent of par) if annual spot rates are as follows: r1=1.93%,r2=2.14%,r3=2.28%,r4=2.84% Carry intermediate calcs. to four decimals. Answer to two decimals

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