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7.49% 3.97% 7.35% 3.68% 6.74% 25. There is a bond that has a quoted price of 93.105 and a par value of $2,000. The coupon

7.49%

3.97%

7.35%

3.68%

6.74%

25. There is a bond that has a quoted price of 93.105 and a par value of $2,000. The coupon rate is 6.48 percent and the bond matures in 12 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate?

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