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3. You purchase a $10,000 bond at a discounted price of $9500. The 10-year bond pays 6% interest quarterly. If you sell the bond at

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3. You purchase a $10,000 bond at a discounted price of $9500. The 10-year bond pays 6% interest quarterly. If you sell the bond at maturity (10 years) for its face value, determine the rate of return for your investment. The rate of return will be the annual interest rate (not the bond interest, that is 6% quarterly) which would make the present worth equal to zero

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