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13- Homer buys a bond maturing in 28 years, nominal value of 1,200 and annual coupons, where he pays 1,968 for it, assuming an effective

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13- Homer buys a bond maturing in 28 years, nominal value of 1,200 and annual coupons, where he pays 1,968 for it, assuming an effective annual Yield rate = y; the coupon rate is twice the Yield rate: at the end of 7 years, Homer sells the bond for the amount of P, which produces the same effective annual rate y = Yield for the new buyer. * Calculate P

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