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16. The Treasury Department sells a zero-coupon bond that will mature in two years. The bond has a face value of $10,000, and sold at

16. The Treasury Department sells a zero-coupon bond that will mature in two years. The bond has a face value of $10,000, and sold at auction for $9,400. What is the annual return for an investor buying the bond? a. 3.00% b. 3.14% c. 6.38% d. 7.00%

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