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A 1 2 - year bond has quarterly coupons of 1 0 % and a face value of 1 0 0 0 . The bond

A 12-year bond has quarterly coupons of 10% and a face value of 1000. The bond is priced at $1108.12 when it held to redemption for a value of $1150. Compute the nominal yield rate convertible quarterly.
Give your answers to one decimal places.

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