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3. (6.2)(1) A $1,000 10% ten-year bond has semiannual coupons. It is purchased new at $880 and is redeemable at $1,020. Find the coupon amount

3. (6.2)(1) A $1,000 10% ten-year bond has semiannual coupons. It is purchased new at $880 and is redeemable at $1,020. Find the coupon amount and the effective yield rate per coupon period.

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