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16. A bond has a par value of $1,000, a time to maturity of 20 years, and a coupon rate of 4.5% with interest paid

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16. A bond has a par value of $1,000, a time to maturity of 20 years, and a coupon rate of 4.5% with interest paid annually. The current market price is $820. What must the current interest rates in the economy? A. 4.50% B. 6.08% C. 8.15% D. 12.52% E. 13.47%

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