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5(b) A $1000 utility bond with 14 years remaining before maturity can now be purchased for $780. It pays interest of $20 each 6-month period.

5(b) A $1000 utility bond with 14 years remaining before maturity can now be purchased for $780. It pays interest of $20 each 6-month period. What rate of return is earned by purchasing the bond at the current market price plus a brokerage charge of $20

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