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3. Jane purchased a 5-year par value bond with semiannual coupons at a nominal annual rate of interest of 6% convertible semiannually at a price

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3. Jane purchased a 5-year par value bond with semiannual coupons at a nominal annual rate of interest of 6% convertible semiannually at a price 1522,20 . The bond can be called at par value 1500 on any coupon date starting at the end of year 2. What is the minimum yield that Jane could receive, expressed as a nominal annual rate of interest convertible semiannually

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