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3. (10 points) Suppose the yield-to-maturities on four-year and the five-year semi-annual coupon bonds are 6% and 7%, what is the 4yly implied forward rate
3. (10 points) Suppose the yield-to-maturities on four-year and the five-year semi-annual coupon bonds are 6% and 7%, what is the 4yly implied forward rate
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